KeyCorp (NYSE:KEY) Stock Position Trimmed by Guggenheim Capital LLC

Guggenheim Capital LLC lowered its position in KeyCorp (NYSE:KEY) by 26.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,489 shares of the financial services provider’s stock after selling 27,341 shares during the quarter. Guggenheim Capital LLC’s holdings in KeyCorp were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in KEY. TCTC Holdings LLC boosted its position in KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 611 shares during the period. Signaturefd LLC lifted its holdings in KeyCorp by 16.0% in the fourth quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 614 shares during the period. Modera Wealth Management LLC grew its position in KeyCorp by 3.9% in the 4th quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after buying an additional 627 shares in the last quarter. Ballentine Partners LLC raised its position in shares of KeyCorp by 5.7% during the 4th quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after buying an additional 692 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of KeyCorp by 0.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 175,512 shares of the financial services provider’s stock worth $3,008,000 after acquiring an additional 695 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 3.2 %

KEY opened at $13.81 on Tuesday. The company has a market capitalization of $15.13 billion, a PE ratio of -46.03, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. The business has a 50-day moving average of $15.68 and a 200-day moving average of $17.12. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 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 company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the business posted $0.20 EPS. Equities research analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KEY. Morgan Stanley reissued an “equal weight” rating on shares of KeyCorp in a report on Thursday. Citigroup reaffirmed a “buy” rating on shares of KeyCorp in a research note on Thursday. DA Davidson cut their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Truist Financial lowered their price objective on shares of KeyCorp from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Finally, Keefe, Bruyette & Woods cut their target price on shares of KeyCorp from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday. Eight equities research 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. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.26.

Insider Transactions at KeyCorp

In other news, Director Of Nova Scotia Bank acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. This represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by corporate insiders.

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.