KeyCorp (NYSE:KEY) Insider Angela Mago Sells 62,850 Shares

KeyCorp (NYSE:KEY) insider Angela Mago sold 62,850 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

KeyCorp Trading Up 2.2%

KeyCorp stock opened at $22.00 on Tuesday. The stock has a 50-day simple moving average of $20.60 and a 200 day simple moving average of $19.05. The stock has a market capitalization of $24.04 billion, a P/E ratio of 14.47, a PEG ratio of 0.52 and a beta of 1.09. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. KeyCorp has a 52 week low of $12.73 and a 52 week high of $22.07.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (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 analysts’ expectations of $1.95 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue was up 131.8% on a year-over-year basis. Analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued 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 payout ratio is presently 53.95%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on KEY shares. Evercore ISI upped their target price on KeyCorp from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Barclays lifted their target price on KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Piper Sandler upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Stephens boosted their price objective on shares of KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, Jefferies Financial Group lifted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, KeyCorp presently has an average rating of “Hold” and a consensus target price of $22.68.

Institutional Investors Weigh In On KeyCorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of KeyCorp by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 124,811,543 shares of the financial services provider’s stock worth $2,576,110,000 after buying an additional 1,192,323 shares in the last quarter. Wellington Management Group LLP grew its position in KeyCorp by 90.2% in the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after acquiring an additional 17,245,128 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of KeyCorp by 1.5% in the second quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock worth $428,084,000 after acquiring an additional 359,573 shares during the last quarter. Invesco Ltd. boosted its stake in shares of KeyCorp by 2.4% in the 2nd quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock valued at $367,783,000 after purchasing an additional 488,730 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of KeyCorp by 169.2% during the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock valued at $388,546,000 after purchasing an additional 13,067,326 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Company 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.