Centaurus Financial Inc. Purchases 728 Shares of KeyCorp (NYSE:KEY)

Centaurus Financial Inc. raised its position in KeyCorp (NYSE:KEY) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,218 shares of the financial services provider’s stock after acquiring an additional 728 shares during the period. Centaurus Financial Inc.’s holdings in KeyCorp were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in shares of KeyCorp in the 4th quarter worth $248,000. Janney Montgomery Scott LLC boosted its holdings in KeyCorp by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 105,861 shares of the financial services provider’s stock worth $1,814,000 after acquiring an additional 2,293 shares in the last quarter. Brighton Jones LLC acquired a new stake in KeyCorp in the fourth quarter worth about $476,000. Pacer Advisors Inc. grew its stake in shares of KeyCorp by 38.6% during the fourth quarter. Pacer Advisors Inc. now owns 97,035 shares of the financial services provider’s stock worth $1,663,000 after acquiring an additional 27,029 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of KeyCorp by 9.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 11,946 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 1,019 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

KeyCorp Stock Down 0.6%

KEY stock opened at $15.85 on Monday. KeyCorp has a 52 week low of $12.73 and a 52 week 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 firm has a 50-day simple moving average of $15.14 and a 200-day simple moving average of $16.70. The stock has a market capitalization of $17.37 billion, a P/E ratio of -52.83, a P/E/G ratio of 0.65 and a beta of 1.08.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data 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 positive return on equity of 8.73% and a negative net margin of 2.52%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $0.20 EPS. Equities analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp announced that its Board of Directors has initiated a share repurchase program on Thursday, March 13th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, May 27th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Tuesday, May 27th. KeyCorp’s dividend payout ratio is presently -482.35%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KEY. Cowen began coverage on shares of KeyCorp in a research report on Wednesday, May 14th. They set a “hold” rating on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of KeyCorp in a report on Thursday, April 17th. Citigroup reissued a “buy” rating on shares of KeyCorp in a research report on Thursday, April 17th. Royal Bank of Canada restated an “outperform” rating on shares of KeyCorp in a research note on Thursday, April 17th. Finally, Wall Street Zen upgraded KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, April 21st. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.86.

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.