Lighthouse Investment Partners LLC Invests $331,000 in KeyCorp (NYSE:KEY)

Lighthouse Investment Partners LLC purchased a new stake in KeyCorp (NYSE:KEY) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 19,306 shares of the financial services provider’s stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its position in shares of KeyCorp by 19.6% during the 4th quarter. Janus Henderson Group PLC now owns 126,784 shares of the financial services provider’s stock valued at $2,174,000 after acquiring an additional 20,771 shares during the last quarter. Gotham Asset Management LLC lifted its position in KeyCorp by 8.4% during the fourth quarter. Gotham Asset Management LLC now owns 17,797 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 1,374 shares during the last quarter. Focus Partners Wealth lifted its position in KeyCorp by 173.4% during the fourth quarter. Focus Partners Wealth now owns 300,322 shares of the financial services provider’s stock valued at $5,148,000 after purchasing an additional 190,485 shares during the last quarter. Fiduciary Trust Co bought a new position in KeyCorp during the fourth quarter valued at $244,000. Finally, Deutsche Bank AG increased its holdings in shares of KeyCorp by 18.7% in the 4th quarter. Deutsche Bank AG now owns 4,905,549 shares of the financial services provider’s stock worth $84,081,000 after buying an additional 772,452 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $16.60, for a total value of $83,000.00. Following the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mohit Ramani purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was bought 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 $137,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.52% of the stock is owned by insiders.

KeyCorp Trading Down 0.7%

NYSE:KEY opened at $16.48 on Friday. The firm has a fifty day simple moving average of $15.12 and a 200-day simple moving average of $16.90. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. 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 company has a market capitalization of $18.06 billion, a P/E ratio of -54.93, a PEG ratio of 0.65 and a beta of 1.08.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. KeyCorp had a positive return on equity of 8.73% and a negative net margin of 2.52%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, equities research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp declared that its board has approved a stock buyback 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 purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

KeyCorp Dividend Announcement

The business 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 dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.98%. The ex-dividend date is Tuesday, May 27th. KeyCorp’s dividend payout ratio is currently -482.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on KEY shares. Evercore ISI set a $17.00 price objective on KeyCorp in a research note on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Truist Financial cut their price objective on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. TD Cowen initiated coverage on shares of KeyCorp in a report on Thursday. They issued a “hold” rating and a $18.00 target price for the company. Finally, Barclays decreased their price objective on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.92.

KeyCorp 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.