KeyCorp (NYSE:KEY) Insider Mohit Ramani Purchases 10,000 Shares

KeyCorp (NYSE:KEY) insider Mohit Ramani acquired 10,000 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the purchase, the insider now owns 10,000 shares in the company, valued at $137,500. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

KeyCorp Stock Performance

NYSE:KEY opened at $14.72 on Friday. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The firm has a market capitalization of $16.13 billion, a price-to-earnings ratio of -49.07, a PEG ratio of 0.65 and a beta of 1.06. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The firm’s fifty day simple moving average is $15.42 and its 200 day simple moving average is $17.06.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, equities research analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, March 13th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On KeyCorp

A number of large investors have recently added to or reduced their stakes in KEY. CHURCHILL MANAGEMENT Corp boosted its position in KeyCorp by 4.2% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 485,044 shares of the financial services provider’s stock valued at $7,756,000 after buying an additional 19,711 shares during the last quarter. Amalgamated Bank boosted its holdings in KeyCorp by 1.6% in the first quarter. Amalgamated Bank now owns 187,257 shares of the financial services provider’s stock valued at $2,994,000 after purchasing an additional 2,966 shares during the last quarter. KBC Group NV grew its stake in KeyCorp by 7.5% during the 1st quarter. KBC Group NV now owns 612,518 shares of the financial services provider’s stock valued at $9,794,000 after purchasing an additional 42,879 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in KeyCorp by 1.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,083,806 shares of the financial services provider’s stock worth $33,320,000 after purchasing an additional 24,186 shares during the last quarter. Finally, Elevated Capital Advisors LLC boosted its stake in shares of KeyCorp by 3.7% during the 1st quarter. Elevated Capital Advisors LLC now owns 52,607 shares of the financial services provider’s stock valued at $841,000 after buying an additional 1,882 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on KEY. Truist Financial lowered their price target on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday. DA Davidson cut their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Barclays decreased their price objective on KeyCorp from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Citigroup reaffirmed a “buy” rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Royal Bank of Canada restated an “outperform” rating on shares of KeyCorp in a research report 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.15.

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.