Choreo LLC Buys 48,526 Shares of KeyCorp $KEY

Choreo LLC lifted its stake in KeyCorp (NYSE:KEY) by 132.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,098 shares of the financial services provider’s stock after purchasing an additional 48,526 shares during the period. Choreo LLC’s holdings in KeyCorp were worth $1,590,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. United Community Bank acquired a new stake in shares of KeyCorp in the 3rd quarter valued at $27,000. Sachetta LLC lifted its stake in shares of KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,595 shares during the period. Elevation Point Wealth Partners LLC bought a new position in KeyCorp in the second quarter valued at about $36,000. Root Financial Partners LLC bought a new position in KeyCorp in the third quarter valued at about $37,000. Finally, Capital A Wealth Management LLC increased its position 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 purchasing an additional 1,603 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In other news, Director Trina M. Evans sold 32,695 shares of the business’s stock in a transaction dated 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 $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew J. Paine III sold 65,961 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $23.23, for a total value of $1,532,274.03. Following 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 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 valued at $3,597,481. 0.52% of the stock is owned by corporate insiders.

KeyCorp Stock Down 5.3%

NYSE:KEY opened at $20.71 on Monday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $23.34. The stock has a 50-day moving average price of $21.51 and a two-hundred day moving average price of $19.58. The stock has a market cap of $22.56 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.62 and a beta of 1.08. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55.

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 business had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the business posted $0.30 EPS. KeyCorp’s revenue for the quarter was up 131.8% on a year-over-year basis. As a group, equities analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The business also recently disclosed 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. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is presently 53.95%.

Analyst Ratings Changes

A number of research analysts have issued reports on KEY shares. The Goldman Sachs Group upped their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Robert W. Baird set a $19.00 price objective on shares of KeyCorp and gave the company a “neutral” rating in a report on Tuesday, February 24th. Wells Fargo & Company set a $18.00 target price on shares of KeyCorp and gave the stock an “underperform” rating in a report on Tuesday, January 6th. Royal Bank Of Canada upped their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, JPMorgan Chase & Co. increased their price target on KeyCorp from $22.00 to $24.50 and gave the company a “neutral” rating in a research note on Monday, February 9th. Twelve investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.92.

About KeyCorp

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.