Curat Global LLC Acquires Shares of 3,550 KeyCorp (NYSE:KEY)

Curat Global LLC acquired a new stake in KeyCorp (NYSE:KEY) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,550 shares of the financial services provider’s stock, valued at approximately $57,000.

A number of other institutional investors have also recently bought and sold shares of the business. Contravisory Investment Management Inc. boosted its holdings in KeyCorp by 4.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 49,102 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 2,100 shares during the period. Bank & Trust Co boosted its holdings in KeyCorp by 10.9% in the 1st quarter. Bank & Trust Co now owns 68,239 shares of the financial services provider’s stock valued at $1,091,000 after purchasing an additional 6,725 shares during the period. Merit Financial Group LLC boosted its holdings in KeyCorp by 5.3% in the 1st quarter. Merit Financial Group LLC now owns 61,528 shares of the financial services provider’s stock valued at $984,000 after purchasing an additional 3,121 shares during the period. NBC Securities Inc. boosted its holdings in KeyCorp by 123,900.0% in the 1st quarter. NBC Securities Inc. now owns 2,480 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 2,478 shares during the period. Finally, Czech National Bank boosted its holdings in KeyCorp by 6.5% in the 1st quarter. Czech National Bank now owns 228,790 shares of the financial services provider’s stock valued at $3,658,000 after purchasing an additional 13,867 shares during the period. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Mohit Ramani purchased 10,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was purchased at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $16.60, for a total transaction of $83,000.00. Following the completion of the transaction, the director now owns 37,177 shares of the company’s stock, valued at approximately $617,138.20. This trade represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $16.33 on Friday. The company has a market cap of $17.90 billion, a price-to-earnings ratio of -54.43, a PEG ratio of 0.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $15.13 and a 200 day simple moving average of $16.62. KeyCorp has a one year low of $12.73 and a one year high of $20.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.01. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the prior year, the company posted $0.20 EPS. Research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp announced that its board has authorized a stock buyback program on Thursday, March 13th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, May 27th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp’s dividend payout ratio (DPR) is currently -482.35%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on KEY shares. Morgan Stanley reissued an “equal weight” rating on shares of KeyCorp in a report on Thursday, April 17th. Cowen assumed coverage on shares of KeyCorp in a report on Wednesday, May 14th. They set a “hold” rating for the company. Truist Financial cut their price target on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Evercore ISI set a $17.00 price target on shares of KeyCorp in a report on Monday, April 28th. Finally, TD Cowen assumed coverage on shares of KeyCorp in a report on Thursday, May 15th. They set a “hold” rating and a $18.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.