KeyCorp 's KEY banking subsidiary, KeyBank National Association, has successfully completed the acquisition of HelloWallet from Morningstar, Inc. MORN . Financial terms of the deal, which was announced in May, has not been disclosed yet.



Following the news, shares of KeyCorp increased nearly 1.5%.



HelloWallet, a personal financial software product, provides financial assistance and guidance to its users by looking at their financial health and giving them a score based on the same.



KeyBank has been using the HelloWallet software since 2015, which has helped hundreds of its clients improve their financial wellness score. So far, KeyBank has benefitted from its relationship with HelloWallet and has liked the high-tech software very much.



With the completion of its acquisition, KeyBank is now in a better position to support its clients.



Dennis Devine, head of KeyCorp's consumer and business banking segment and co-president of community banking for KeyBank, said, "Adding the talented HelloWallet team to KeyBank enables us to do even more to help more clients."



He further added, "We've seen the difference our financial wellness initiative makes every day for our retail bank clients, helping them understand their finances and enabling them to make more confident financial decisions. We believe financial wellness can make the same difference for our business client's employees, and we will make financial wellness the centerpiece of our already strong Key@Work program."



Shares of KeyCorp have increased 76.1% in the last one year, outperforming the Zacks categorized Banks - Major Regional industry's of 49.4%.







Given the solid capital and balance sheet position, the company remains well positioned to further grow through acquisitions. Notably, in 2016, KeyCorp completed the acquisition of First Niagara Financial Group, the benefits of which the company will continue to reap for the next few years.



Currently, KeyCorp carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .



Other top-ranked stocks in the same space include Comerica Incorporated CMA and The PNC Financial Services Group, Inc. PNC , each carrying a Zacks Rank #2.



Comerica witnessed an upward earnings estimate revision of nearly 1% for the current year in the last 60 days. Moreover, its shares have surged 92.9% in the last one year.



PNC Financial's current year earnings estimates have been marginally revised upward in the last 60 days and its share price gained 63.4% in the last one year.



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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report </s> Travelers Cos. earnings fell in the first quarter as tornadoes, hail storms and icy weather caused significant catastrophe losses.

Virtu Financial Agrees to Buy KCG Holdings for $1.4 Billion

High-speed trading firm Virtu Financial Inc. reached a deal to acquire rival KCG Holdings Inc. for $1.4 billion in cash, a tie-up that would create an electronic trading giant responsible for around one-fifth of volume in U.S. equities.

The U.K. government sold the Green Investment Bank to a consortium led by Australian bank Macquarie Group, in a deal that was delayed by political opposition to the sale of the state-backed renewable energy fund.

The Trump administration appears unlikely to upend decades of global financial cooperation by scorning the International Monetary Fund and World Bank, a source of comfort to central bankers and finance ministers gathering this week in Washington.

Blackstone Posts Its 'Best Quarter' for Realizations

Blackstone Group's first-quarter profit rose more than expected, as buoyant markets fueled appreciation in the firm's investments and enabled it to sell prior years' holdings at a record pace.

Big fund managers are for the first time saying they are comfortable with including domestic Chinese equities in key global indexes, a sign that the mainland's large stock markets may finally be coming of age.

U.S. Rate Increases Have Smaller Impact on China's Capital Flows

U.S. interest-rate increases are having a smaller impact on China's capital flows than before, the country's foreign-exchange regulator said.

U.S. Bancorp plans on May 1 to launch a premium card geared toward high spenders and millennials, adding to the threats facing American Express in a card category where it was until recently unrivaled.

Volcker Open to Tweaking Dodd-Frank, but Not the Volcker Rule

Former Federal Reserve Chairman Paul Volcker, known as a champion of postcrisis financial rules, said Wednesday he was open to making some changes to the Dodd-Frank regulatory-overhaul law-but not his namesake rule.

Hearing on GOP Plan to Overhaul Dodd-Frank, CFPB Set for Next Week

The Republicans' blueprint for revamping the 2010 Dodd-Frank Act and the Consumer Financial Protection Bureau is set for a hearing next week, kicking off what is likely to be a fierce debate over loosening regulations for Wall Street. </s> New York — A US government panel rejected Ant Financial’s acquisition of US money transfer company MoneyGram International over national security concerns, the companies said on Tuesday.

This is the most high-profile Chinese deal to be torpedoed under the administration of US President Donald Trump.

The collapse of the $1.2bn deal represents a blow for Jack Ma, the executive chairman of Chinese internet conglomerate Alibaba Group Holding, who owns Ant Financial together with Alibaba executives.

He was hoping to expand Ant Financial’s footprint amid fierce domestic competition from Chinese rival Tencent Holdings’ WeChat payment platform.

Ma, a Chinese citizen who appears frequently with leaders from the highest echelons of the Communist Party, had promised Trump in a meeting a year ago that he would create 1-million US jobs.

MoneyGram shares were down 8.5% at $12.06 in after-market trading.

The companies decided to terminate their deal after the Committee on Foreign Investment in the US (CFIUS) rejected their proposals to mitigate concerns over the safety of data that can be used to identify US citizens, according to sources familiar with the confidential discussions.

"Despite our best efforts to work cooperatively with the US government, it has now become clear that CFIUS will not approve this merger," MoneyGram CEO Alex Holmes said.

A standard CFIUS review lasts up to 75 days and the companies went through the process three times to address concerns.

The additional security measures and protocols that the companies suggested failed to reassure CFIUS, the sources said.

The US Treasury said it was prohibited by statute from disclosing information filed with CFIUS and declined to comment on the MoneyGram deal.

The US government has toughened its stance on the sale of companies to Chinese entities, at a time when Trump is trying to put pressure on China to help tackle North Korea’s nuclear ambitions and to be more accommodative on trade and foreign exchange issues.

The MoneyGram deal is the latest in a string of Chinese acquisitions of US companies that have failed to clear CFIUS reviews.

They include China-backed buy-out fund Canyon Bridge Capital Partners’ $1.3bn acquisition of US chip maker Lattice Semiconductor; and Chinese buy-out firm Orient Hontai Capital’s $1.4bn acquisition of US mobile marketing firm AppLovin.

In November, China Oceanwide Holdings Group and Genworth Financial extended a deadline to April 1 for the Chinese group’s planned $2.7bn takeover of the US life insurer.

The demise of the MoneyGram deal is also the latest example of how CFIUS’s focus on cyber security and the integrity of personal data is prompting it to block deals in sectors not traditionally associated with national security, such as financial services.

Other US financial services deals by Chinese companies awaiting CFIUS approval include HNA Group’s acquisition of hedge fund-of-funds firm SkyBridge Capital from Anthony Scaramucci, the Trump administration’s former communications director.

SkyBridge and HNA did not immediately respond to requests for comment.

Dallas-based MoneyGram has about 350,000 remittance locations in more than 200 countries.

Ant Financial was looking to take over MoneyGram not so much for its US presence but to expand in growing markets outside China.

Ant Financial and MoneyGram said they would now explore and develop initiatives to work together in remittance and digital payments in China, India, the Philippines and other Asian markets, as well as in the US.

This co-operation would take the form of commercial agreements, one of the sources said.

Any arrangements reached by Ant Financial and MoneyGram that do not involve a transaction would not be subject to review by CFIUS.

Some US legislators, including Republican senators Pat Roberts and Jerry Moran, had written to Treasury Secretary Steven Mnuchin, who also serves as chairman of CFIUS, to express concern that Ant Financial’s acquisition of MoneyGram could pose national security threats, arguing that the information of US citizens, including military personnel, could be compromised.

Ant Financial had argued that MoneyGram’s data infrastructure would remain in the US, with personal information encrypted or held in secure facilities on US soil.

It had also pointed to existing US regulations that call for such protections.

Ant Financial clinched an $18-per-share all-cash deal to acquire MoneyGram in April, seeing off competition from US-based Euronet Worldwide, which had made an unsolicited offer for MoneyGram and openly lobbied US legislators, saying Ant’s proposal created a national security risk.

Ant Financial said it paid MoneyGram a $30m termination fee for the deal’s collapse. </s> * Virtu financial, inc. Agrees to acquire kcg holdings, inc

* Virtu financial -virtu has agreed to acquire kcg in a cash transaction valued at $20.00 per kcg share, or a total of approximately $1.4 billion

* Virtu financial - transaction expected to close during q3 in 2017 after receipt of kcg shareholder approval and all required regulatory approvals

* Virtu financial inc - within two years of completion of deal , virtu expects to realize about $208 million of net pre-tax expense savings

* Deal has been unanimously approved by the board of directors of each company

* Virtu financial - virtu intends to maintain its annual dividend of $0.96 per share after the close of the transaction

* Virtu financial - following the close of the transaction, douglas a. Cifu, virtu ceo, will remain ceo of the combined company

* Virtu financial inc says intends to fund cash transaction & debt refinancing with new gross borrowings of $1.65 billion and sale of $750 million of stock

* $750 million will be financed through the issuance of common stock at $15.60 per share

* Virtu financial inc - joseph a. Molluso, virtu cfo, will remain the cfo of the combined company

* Virtu financial inc - within two years of completion of deal , virtu expects to realize $440 million of capital synergies

* Virtu financial - also entered into a commitment with j.p. Morgan securities llc, to provide up to $1.65 billion of debt financing for the transaction

* Virtu financial - following deal close, combined co board will consist of 10 directors, including 8 of 10 members currently serving on virtu board

* Virtu financial inc - 2 new members from north island, robert greifeld and glenn hutchins, will join virtu’s board of directors

* Virtu financial inc - over 25% accretion to virtu earnings per share with fully-phased cost savings and capital synergies following deal

* Virtu financial - north island will invest $625 million in virtu common stock, in partnership with gic and public sector pension investment board

* Virtu financial - temasek has committed to invest an additional $125 million in virtu common stock Source text for Eikon: Further company coverage:

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KeyCorp finalizes its purchase of financial app HelloWallet.