Caprock Group LLC Invests $626,000 in KeyCorp $KEY

Caprock Group LLC bought a new stake in KeyCorp (NYSE:KEY) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 32,317 shares of the financial services provider’s stock, valued at approximately $626,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KEY. Bryn Mawr Trust Advisors LLC grew its holdings in shares of KeyCorp by 4.8% during the second quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 608 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its position in shares of KeyCorp by 4.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 627 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in KeyCorp by 0.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 154,818 shares of the financial services provider’s stock worth $2,894,000 after buying an additional 660 shares during the last quarter. Amalgamated Bank increased its position in KeyCorp by 0.4% during the second quarter. Amalgamated Bank now owns 187,940 shares of the financial services provider’s stock worth $3,274,000 after buying an additional 683 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in KeyCorp by 0.9% during the third quarter. Sequoia Financial Advisors LLC now owns 81,236 shares of the financial services provider’s stock worth $1,518,000 after buying an additional 694 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Down 0.4%

KEY stock opened at $21.67 on Tuesday. 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’s 50-day moving average price is $21.35 and its 200 day moving average price is $19.34. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34. The company has a market cap of $23.68 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.53 and a beta of 1.10.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results 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. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company’s revenue for the quarter was up 131.8% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. On average, research analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be issued a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 3.8%. KeyCorp’s dividend payout ratio is 53.95%.

Insider Activity

In other news, insider Andrew J. Paine III sold 65,961 shares of KeyCorp stock in a transaction on Friday, February 6th. The stock was sold at an average price of $23.23, for a total transaction 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. The trade was a 28.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the sale, the director directly owned 58,719 shares in the company, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 161,506 shares of company stock worth $3,597,481 over the last 90 days. 0.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on KEY shares. Royal Bank Of Canada raised their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Piper Sandler raised their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Robert W. Baird cut shares of KeyCorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. raised their price target on KeyCorp from $22.00 to $24.50 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Stephens boosted their price target on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. Twelve equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.03.

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.