Livforsakringsbolaget Skandia Omsesidigt Has $67,000 Stake in KeyCorp (NYSE:KEY)

Livforsakringsbolaget Skandia Omsesidigt lowered its position in KeyCorp (NYSE:KEY) by 48.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,213 shares of the financial services provider’s stock after selling 3,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in KeyCorp were worth $67,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC lifted its position in shares of KeyCorp by 38.6% in the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 611 shares during the period. Signaturefd LLC lifted its position in shares of KeyCorp by 16.0% in the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 614 shares during the period. Modera Wealth Management LLC lifted its position in shares of KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 627 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of KeyCorp by 2.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 631 shares during the period. Finally, Proactive Wealth Strategies LLC lifted its position in shares of KeyCorp by 4.1% in the 4th quarter. Proactive Wealth Strategies LLC now owns 17,886 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KEY. Baird R W raised shares of KeyCorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Wells Fargo & Company reiterated an “overweight” rating on shares of KeyCorp in a report on Thursday, April 17th. Truist Financial reduced their price target on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on shares of KeyCorp in a research report on Wednesday, May 21st. They set a “hold” rating and a $18.00 price target for the company. Finally, Cowen initiated coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They set a “hold” rating 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.86.

KeyCorp Price Performance

KEY stock opened at $16.36 on Wednesday. The firm has a 50 day moving average of $15.18 and a 200-day moving average of $16.56. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The firm has a market capitalization of $17.92 billion, a P/E ratio of -54.51, a price-to-earnings-growth ratio of 0.65 and a beta of 1.09.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business earned $0.20 earnings per share. As a group, sell-side analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be given a $0.205 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.01%. KeyCorp’s dividend payout ratio (DPR) is currently -482.35%.

KeyCorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, insider Mohit Ramani bought 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $13.75 per share, with a total value of $137,500.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at $137,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 5,000 shares of the firm’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 sale, the director now directly owns 37,177 shares in the company, valued at $617,138.20. This represents a 11.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is owned by company insiders.

KeyCorp Company Profile

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.