KeyCorp $KEY Shares Bought by KLCM Advisors Inc.

KLCM Advisors Inc. grew its position in KeyCorp (NYSE:KEY) by 23.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,445 shares of the financial services provider’s stock after acquiring an additional 32,947 shares during the period. KLCM Advisors Inc.’s holdings in KeyCorp were worth $3,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Maseco LLP acquired a new stake in KeyCorp in the fourth quarter valued at about $27,000. DV Equities LLC purchased a new position in shares of KeyCorp during the 4th quarter worth approximately $27,000. GoalVest Advisory LLC purchased a new position in shares of KeyCorp during the 4th quarter worth approximately $30,000. Smithfield Trust Co acquired a new stake in shares of KeyCorp in the 4th quarter valued at approximately $31,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of KeyCorp in the third quarter valued at approximately $32,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Price Performance

NYSE KEY traded up $0.22 during mid-day trading on Friday, hitting $23.32. The stock had a trading volume of 11,117,303 shares, compared to its average volume of 10,283,393. The company has a 50 day simple moving average of $22.13 and a 200 day simple moving average of $21.44. The company has a market cap of $25.17 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 0.73 and a beta of 1.02. KeyCorp has a 52-week low of $16.47 and a 52-week high of $23.72. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the business earned $0.38 earnings per share. KeyCorp’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that KeyCorp will post 1.82 EPS for the current fiscal year.

KeyCorp declared that its Board of Directors has authorized a share buyback program on Wednesday, May 13th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 13% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, June 2nd. KeyCorp’s dividend payout ratio is presently 50.31%.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the transaction, the insider directly owned 281,564 shares in the company, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent analyst reports. Robert W. Baird upped their price objective on KeyCorp from $19.00 to $22.00 and gave the stock a “neutral” rating in a report on Friday, April 17th. Royal Bank Of Canada boosted their target price on shares of KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. upped their price target on shares of KeyCorp from $22.50 to $24.50 and gave the stock a “neutral” rating in a research note on Monday, July 6th. Susquehanna raised their price objective on shares of KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a research note on Monday, May 18th. Finally, UBS Group boosted their price objective on shares of KeyCorp from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of “Moderate Buy” and a consensus target price of $47.34.

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.