Vinva Investment Management Ltd Invests $1.38 Million in KeyCorp $KEY

Vinva Investment Management Ltd bought a new stake in KeyCorp (NYSE:KEY) during the third quarter, according to its most recent filing with the SEC. The firm bought 73,246 shares of the financial services provider’s stock, valued at approximately $1,383,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $476,000. Woodline Partners LP lifted its position in shares of KeyCorp by 41.4% during the 1st quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock worth $1,346,000 after purchasing an additional 24,627 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its stake in KeyCorp by 2.6% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 308,748 shares of the financial services provider’s stock valued at $5,368,000 after purchasing an additional 7,780 shares during the period. Aviva PLC grew its holdings in KeyCorp by 11.5% in the 2nd quarter. Aviva PLC now owns 723,419 shares of the financial services provider’s stock valued at $12,602,000 after buying an additional 74,532 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in KeyCorp by 5.9% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,834,212 shares of the financial services provider’s stock valued at $31,952,000 after buying an additional 102,902 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $19.70 on Tuesday. The firm has a market capitalization of $21.47 billion, a PE ratio of 12.96, a PEG ratio of 0.59 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. KeyCorp has a 1-year low of $12.73 and a 1-year high of $23.34. The business’s 50 day moving average is $21.42 and its 200-day moving average is $19.67.

KeyCorp (NYSE:KEY) last issued its 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. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.KeyCorp’s revenue was up 131.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. Sell-side analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.2%. KeyCorp’s dividend payout ratio is currently 53.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KEY shares. Robert W. Baird set a $19.00 price target on KeyCorp and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Royal Bank Of Canada raised their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Barclays boosted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. Truist Financial upped their target price on shares of KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Finally, DA Davidson set a $25.00 price target on shares of KeyCorp in a report on Wednesday, January 21st. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $23.03.

Insider Transactions at KeyCorp

In related news, insider Andrew J. Paine III sold 65,961 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 166,583 shares of the company’s stock, valued at $3,869,723.09. This represents a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the transaction, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This represents a 35.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 161,506 shares of company stock valued at $3,597,481. Company insiders own 0.52% of the company’s stock.

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.