Barclays PLC Grows Stock Holdings in KeyCorp $KEY

Barclays PLC increased its stake in KeyCorp (NYSE:KEY) by 49.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,237,786 shares of the financial services provider’s stock after buying an additional 1,730,046 shares during the period. Barclays PLC owned 0.48% of KeyCorp worth $97,894,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction 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 transaction, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew J. Paine III sold 65,961 shares of the company’s 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 directly owned 166,583 shares of the company’s stock, valued at $3,869,723.09. This represents a 28.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 161,506 shares of company stock valued at $3,597,481 in the last ninety days. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

KEY has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. DA Davidson set a $25.00 target price on KeyCorp in a research note on Wednesday, January 21st. Robert W. Baird set a $19.00 target price on KeyCorp and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Wells Fargo & Company set a $18.00 price target on KeyCorp and gave the stock an “underperform” rating in a research note on Tuesday, January 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of KeyCorp in a report on Wednesday, January 7th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.03.

KeyCorp Stock Performance

KEY opened at $19.88 on Monday. The company’s 50 day moving average is $21.44 and its 200 day moving average is $19.66. 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 cap of $21.66 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.59 and a beta of 1.08. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was up 131.8% on a year-over-year basis. On average, equities research analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

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 paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.1%. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

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.