CANADA LIFE ASSURANCE Co Decreases Holdings in KeyCorp (NYSE:KEY)

CANADA LIFE ASSURANCE Co trimmed its position in KeyCorp (NYSE:KEY) by 0.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 725,804 shares of the financial services provider’s stock after selling 3,298 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in KeyCorp were worth $12,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sanctuary Advisors LLC grew its position in KeyCorp by 23.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 71,218 shares of the financial services provider’s stock worth $1,193,000 after purchasing an additional 13,701 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of KeyCorp during the third quarter valued at $395,000. Franklin Resources Inc. increased its position in shares of KeyCorp by 340.0% in the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider’s stock valued at $7,186,000 after acquiring an additional 319,155 shares during the period. Versant Capital Management Inc lifted its position in KeyCorp by 44.6% during the 4th quarter. Versant Capital Management Inc now owns 3,587 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 1,107 shares during the period. Finally, GAMMA Investing LLC grew its stake in KeyCorp by 23.0% during the 4th quarter. GAMMA Investing LLC now owns 30,413 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 5,687 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Trading Up 1.3 %

KEY opened at $14.26 on Monday. The firm 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. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $15.75 and a 200-day simple moving average of $17.14. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04.

KeyCorp (NYSE:KEY) last issued 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 earned $0.20 EPS. On average, equities analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp announced that its board has approved a stock repurchase plan on Thursday, March 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of KeyCorp stock in a transaction dated Wednesday, February 5th. The stock was acquired at an average price of $17.85 per share, for a total transaction 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. This represents a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on KEY. Stephens reaffirmed an “overweight” rating and set a $20.00 target price on shares of KeyCorp in a report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price objective on shares of KeyCorp from $18.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley reaffirmed an “equal weight” rating on shares of KeyCorp in a research report on Thursday. Citigroup reissued a “buy” rating on shares of KeyCorp in a report on Thursday. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of KeyCorp in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

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.