Zacks Investment Management Acquires 1,671 Shares of KeyCorp (NYSE:KEY)

Zacks Investment Management increased its holdings in shares of KeyCorp (NYSE:KEY) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 37,749 shares of the financial services provider’s stock after acquiring an additional 1,671 shares during the period. Zacks Investment Management’s holdings in KeyCorp were worth $647,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of KeyCorp by 7.1% during the fourth quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock worth $2,004,228,000 after acquiring an additional 7,754,576 shares during the period. FMR LLC increased its holdings in KeyCorp by 7.1% during the 4th quarter. FMR LLC now owns 44,431,526 shares of the financial services provider’s stock worth $761,556,000 after purchasing an additional 2,938,405 shares during the period. Charles Schwab Investment Management Inc. raised its position in KeyCorp by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock valued at $566,626,000 after purchasing an additional 1,452,179 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of KeyCorp by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 23,349,979 shares of the financial services provider’s stock worth $399,169,000 after buying an additional 1,647,332 shares during the period. Finally, Invesco Ltd. grew its position in shares of KeyCorp by 2.9% during the 4th quarter. Invesco Ltd. now owns 17,260,508 shares of the financial services provider’s stock worth $295,845,000 after buying an additional 479,604 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In other KeyCorp news, Director Of Nova Scotia Bank purchased 50,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now owns 162,983,726 shares in the company, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on KeyCorp from $18.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Wells Fargo & Company reaffirmed an “overweight” rating on shares of KeyCorp in a research report on Thursday. Keefe, Bruyette & Woods cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, January 22nd. Morgan Stanley restated an “equal weight” rating on shares of KeyCorp in a report on Thursday. Finally, DA Davidson cut their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

KeyCorp Stock Up 1.3 %

NYSE KEY opened at $14.26 on Friday. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.84 and a current ratio of 0.85. The business has a fifty day moving average price of $15.75 and a 200 day moving average price of $17.14. The company has a market cap of $15.62 billion, a P/E ratio of -47.53, a P/E/G ratio of 0.65 and a beta of 1.06.

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

KeyCorp declared that its Board of Directors has authorized a stock buyback program on Thursday, March 13th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.