Marshall Wace LLP Has $9.84 Million Stake in KeyCorp (NYSE:KEY)

Marshall Wace LLP raised its holdings in shares of KeyCorp (NYSE:KEY) by 630.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 573,881 shares of the financial services provider’s stock after purchasing an additional 495,368 shares during the quarter. Marshall Wace LLP owned 0.06% of KeyCorp worth $9,836,000 as of its most recent SEC filing.

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

KeyCorp Trading Down 3.2 %

Shares of NYSE KEY opened at $13.81 on Tuesday. The stock has a market cap of $15.13 billion, a P/E ratio of -46.03, a price-to-earnings-growth ratio of 0.65 and a beta of 1.06. 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 has a 1 year low of $12.73 and a 1 year high of $20.04. The firm has a 50-day moving average of $15.68 and a 200 day moving average of $17.12.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share 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 the consensus estimate of $1.77 billion. During the same quarter in the prior year, the business posted $0.20 EPS. As a group, sell-side analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

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

Insider Buying and Selling

In other KeyCorp news, Director Of Nova Scotia Bank acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were acquired at an average cost of $17.85 per share, with a total value of $892,500.00. Following the transaction, the director now owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

KEY has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating on shares of KeyCorp in a research report on Thursday. Citigroup reissued a “buy” rating on shares of KeyCorp in a research note on Thursday. Baird R W upgraded KeyCorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Stephens reaffirmed an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company reissued an “overweight” rating on shares of KeyCorp in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.26.

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.