Hantz Financial Services Inc. Has $8.33 Million Stock Position in KeyCorp $KEY

Hantz Financial Services Inc. cut its position in KeyCorp (NYSE:KEY) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 403,482 shares of the financial services provider’s stock after selling 25,819 shares during the quarter. Hantz Financial Services Inc.’s holdings in KeyCorp were worth $8,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maseco LLP acquired a new position in KeyCorp in the 4th quarter valued at $27,000. United Community Bank acquired a new position in KeyCorp in the 3rd quarter valued at $27,000. GoalVest Advisory LLC acquired a new position in KeyCorp in the 4th quarter valued at $30,000. True Wealth Design LLC grew its stake in KeyCorp by 1,263.5% in the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,592 shares during the last quarter. Finally, Kelleher Financial Advisors acquired a new position in KeyCorp in the 3rd quarter valued at $32,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on shares of KeyCorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Jefferies Financial Group raised their target price on shares of KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, April 17th. DA Davidson raised their target price on shares of KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Morgan Stanley lowered their target price on shares of KeyCorp from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Finally, Wall Street Zen lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.78.

Insider Activity at KeyCorp

In other 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 of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $21.59 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. KeyCorp has a fifty-two week low of $15.28 and a fifty-two week high of $23.34. The firm has a fifty day moving average price of $20.93 and a two-hundred day moving average price of $20.58. The company has a market cap of $23.40 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 0.69 and a beta of 1.06.

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

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, June 2nd. KeyCorp’s dividend payout ratio (DPR) is presently 50.31%.

KeyCorp declared that its board has approved a share repurchase 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 repurchase up to 13% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.