Andra AP fonden Purchases Shares of 232,300 KeyCorp $KEY

Andra AP fonden purchased a new stake in shares of KeyCorp (NYSE:KEY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 232,300 shares of the financial services provider’s stock, valued at approximately $4,342,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of KeyCorp during the 4th quarter worth approximately $476,000. Woodline Partners LP lifted its holdings 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 valued at $1,346,000 after purchasing an additional 24,627 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in KeyCorp by 4.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 141,524 shares of the financial services provider’s stock worth $2,465,000 after purchasing an additional 5,724 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in KeyCorp by 24.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 148,513 shares of the financial services provider’s stock valued at $2,587,000 after purchasing an additional 29,400 shares during the last quarter. Finally, New York Life Investment Management LLC raised its holdings in shares of KeyCorp by 0.7% during the second quarter. New York Life Investment Management LLC now owns 134,274 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 940 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction that occurred on 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the transaction, the insider directly owned 261,415 shares in the company, valued at $5,633,493.25. This represents a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 161,506 shares of company stock worth $3,597,481. Corporate insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Evercore raised their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. DA Davidson set a $25.00 price objective on KeyCorp in a report on Wednesday, January 21st. Argus increased their target price on KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings raised KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.92.

KeyCorp Stock Down 5.3%

Shares of NYSE KEY opened at $20.71 on Friday. The stock has a market capitalization of $22.56 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 0.62 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $21.51 and a 200 day moving average price of $19.57. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34.

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

KeyCorp Dividend Announcement

The business 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 dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio is 53.95%.

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.