Catherine Avery Investment Management LLC Purchases Shares of 191,059 KeyCorp $KEY

Catherine Avery Investment Management LLC acquired a new position in shares of KeyCorp (NYSE:KEY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 191,059 shares of the financial services provider’s stock, valued at approximately $3,943,000. KeyCorp accounts for 2.4% of Catherine Avery Investment Management LLC’s investment portfolio, making the stock its 27th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of KeyCorp by 90.2% during the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after buying an additional 17,245,128 shares during the last quarter. Invesco Ltd. grew its stake in 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 buying an additional 488,730 shares during the last quarter. Capital World Investors grew its stake in KeyCorp by 169.2% in 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 buying an additional 13,067,326 shares during the last quarter. Franklin Resources Inc. raised its holdings in KeyCorp by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 15,799,619 shares of the financial services provider’s stock valued at $295,295,000 after acquiring an additional 397,523 shares during the period. Finally, Norges Bank bought a new position in KeyCorp in the 2nd quarter valued at about $195,642,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $19.26 on Friday. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34. The company’s 50 day moving average price is $21.12 and its two-hundred day moving average price is $19.66. The firm has a market cap of $20.98 billion, a PE ratio of 12.67, a PEG ratio of 0.57 and a beta of 1.08. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55.

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, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $5.45 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 firm’s quarterly revenue was up 131.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. Equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were issued a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 4.3%. KeyCorp’s payout ratio is currently 53.95%.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was 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. This represents a 19.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the sale, the director directly owned 58,719 shares in the company, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 161,506 shares of company stock valued at $3,597,481 in the last three months. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

KEY has been the subject of a number of research analyst reports. Barclays boosted their price objective on KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Weiss Ratings upgraded KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Truist Financial lifted their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Citigroup restated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Finally, Evercore increased their price objective on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Twelve 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” 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.