ProShare Advisors LLC Has $3.56 Million Stock Holdings in KeyCorp $KEY

ProShare Advisors LLC trimmed its stake in shares of KeyCorp (NYSE:KEY) by 12.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,395 shares of the financial services provider’s stock after selling 27,832 shares during the quarter. ProShare Advisors LLC’s holdings in KeyCorp were worth $3,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in KeyCorp by 8,775.0% during the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 1,404 shares during the last quarter. United Community Bank acquired a new stake in shares of KeyCorp during the third quarter worth $27,000. Sachetta LLC raised its stake in KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after buying an additional 1,595 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in KeyCorp in the second quarter valued at $36,000. Finally, Root Financial Partners LLC bought a new stake in KeyCorp during the third quarter valued at $37,000. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Price Performance

Shares of NYSE KEY opened at $21.67 on Friday. The company has a market capitalization of $23.68 billion, a PE ratio of 14.25, a PEG ratio of 0.53 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $21.31 and its 200-day moving average price is $19.29. KeyCorp has a twelve month low of $12.73 and a twelve month high of $23.34.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the business posted $0.30 earnings per share. KeyCorp’s revenue was up 131.8% on a year-over-year basis. On average, equities analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a $0.205 dividend. 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, March 3rd. KeyCorp’s payout ratio is 53.95%.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the transaction, the insider directly owned 261,415 shares of the company’s stock, valued at $5,633,493.25. This represents a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the sale, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 161,506 shares of company stock worth $3,597,481. 0.52% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KEY. Truist Financial lifted their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Evercore ISI lifted their target price on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. TD Cowen reissued a “buy” rating on shares of KeyCorp in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KeyCorp in a research report on Monday, December 29th. Finally, DA Davidson set a $25.00 price objective on shares of KeyCorp in a research note on Wednesday, January 21st. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.03.

About KeyCorp

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.