KeyCorp (NYSE:KEY - Get Free Report) insider Mohit Ramani purchased 10,000 shares of the company'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 purchase, the insider now directly owns 10,000 shares in the company, valued at approximately $137,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
KeyCorp Price Performance
KEY stock opened at $14.56 on Thursday. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The company's fifty day simple moving average is $15.55 and its 200 day simple moving average is $17.08. The firm has a market cap of $15.95 billion, a price-to-earnings ratio of -48.53, a PEG ratio of 0.65 and a beta of 1.06.
KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm earned $0.20 earnings per share. On average, analysts expect that KeyCorp will post 1.5 earnings per share for the current year.
KeyCorp announced that its board has initiated a stock repurchase plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of KEY. KG&L Capital Management LLC grew its holdings in KeyCorp by 27.3% during the first quarter. KG&L Capital Management LLC now owns 95,962 shares of the financial services provider's stock worth $1,534,000 after buying an additional 20,592 shares in the last quarter. Salzhauer Michael raised its stake in KeyCorp by 28.1% in the 1st quarter. Salzhauer Michael now owns 95,851 shares of the financial services provider's stock valued at $1,533,000 after acquiring an additional 21,003 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of KeyCorp by 4.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider's stock valued at $1,101,000 after buying an additional 3,145 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its position in shares of KeyCorp by 0.4% during the first quarter. Chevy Chase Trust Holdings LLC now owns 523,203 shares of the financial services provider's stock worth $8,366,000 after acquiring an additional 2,248 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in KeyCorp by 4.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 379,514 shares of the financial services provider's stock worth $6,068,000 after purchasing an additional 15,367 shares during the period. Institutional investors and hedge funds own 79.69% of the company's stock.
Wall Street Analyst Weigh In
KEY has been the subject of several analyst reports. Citigroup restated a "buy" rating on shares of KeyCorp in a report on Thursday, April 17th. Baird R W upgraded shares of KeyCorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Wells Fargo & Company reissued an "overweight" rating on shares of KeyCorp in a report on Thursday, April 17th. Stephens reiterated an "overweight" rating and issued a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an "outperform" rating on shares of KeyCorp in a research note on Thursday, April 17th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, KeyCorp currently has an average rating of "Moderate Buy" and a consensus target price of $19.15.
Check Out Our Latest Research Report on KeyCorp
About KeyCorp
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to contact@insidertrades.com.
