Jefferies Financial Group Inc. Has $4.55 Million Stock Position in KeyCorp $KEY

Jefferies Financial Group Inc. lifted its position in shares of KeyCorp (NYSE:KEY) by 62.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 220,523 shares of the financial services provider’s stock after acquiring an additional 84,497 shares during the period. Jefferies Financial Group Inc.’s holdings in KeyCorp were worth $4,552,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of KEY. Wellington Management Group LLP increased its position in shares of KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after purchasing an additional 17,245,128 shares during the period. Capital World Investors grew its position in KeyCorp by 169.2% in the third quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock valued at $388,546,000 after acquiring an additional 13,067,326 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of KeyCorp during the third quarter valued at about $66,683,000. Artemis Investment Management LLP acquired a new stake in shares of KeyCorp during the fourth quarter valued at about $55,969,000. Finally, Victory Capital Management Inc. boosted its stake in shares of KeyCorp by 39.6% during the third quarter. Victory Capital Management Inc. now owns 6,856,534 shares of the financial services provider’s stock valued at $128,149,000 after purchasing an additional 1,945,368 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 0.1%

Shares of NYSE KEY opened at $21.59 on Tuesday. KeyCorp has a one year low of $15.28 and a one year high of $23.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The business’s fifty day moving average price is $20.93 and its 200-day moving average price is $20.58. The stock has a market capitalization of $23.40 billion, a PE ratio of 13.24, a P/E/G ratio of 0.69 and a beta of 1.06.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, equities research analysts anticipate that KeyCorp will post 1.82 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, June 2nd. KeyCorp’s dividend payout ratio is currently 50.31%.

KeyCorp declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 13th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 13% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore reaffirmed an “outperform” rating on shares of KeyCorp in a research note on Tuesday, April 21st. The Goldman Sachs Group boosted their price target on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Morgan Stanley decreased their price objective on KeyCorp from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Susquehanna boosted their price objective on KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. decreased their price target on KeyCorp from $24.50 to $22.50 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.78.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the transaction, the insider directly owned 281,564 shares in the company, valued at $6,098,676.24. This represents a 7.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by corporate insiders.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.