Tredje AP fonden Buys 27,845 Shares of KeyCorp $KEY

Tredje AP fonden increased its stake in KeyCorp (NYSE:KEY) by 20.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 164,542 shares of the financial services provider’s stock after acquiring an additional 27,845 shares during the period. Tredje AP fonden’s holdings in KeyCorp were worth $3,075,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. United Community Bank acquired a new stake in shares of KeyCorp in the 3rd quarter valued at $27,000. Sachetta LLC boosted its holdings in KeyCorp by 1,246.1% in the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,595 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in KeyCorp in the second quarter worth about $36,000. Root Financial Partners LLC bought a new stake in KeyCorp during the 3rd quarter worth about $37,000. Finally, Capital A Wealth Management LLC raised its holdings in KeyCorp by 252.8% during the 2nd quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,603 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KEY shares. TD Cowen reissued a “buy” rating on shares of KeyCorp in a research note on Wednesday, January 7th. Evercore upped their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Stephens increased their price target on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. Robert W. Baird lowered KeyCorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Finally, DA Davidson set a $25.00 price objective on KeyCorp in a report on Wednesday, January 21st. Eleven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, KeyCorp currently has a consensus rating of “Hold” and an average target price of $22.87.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 65,961 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the sale, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the transaction, the insider owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 161,506 shares of company stock worth $3,597,481 over the last ninety days. Company insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $22.17 on Friday. KeyCorp has a 12 month low of $12.73 and a 12 month high of $23.34. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $24.23 billion, a PE ratio of 14.58, a PEG ratio of 0.66 and a beta of 1.10. The stock’s fifty day simple moving average is $21.47 and its 200 day simple moving average is $19.44.

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

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 3.7%. KeyCorp’s dividend payout ratio is currently 53.95%.

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.