Aquatic Capital Management LLC Invests $12.13 Million in KeyCorp $KEY

Aquatic Capital Management LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 649,199 shares of the financial services provider’s stock, valued at approximately $12,134,000. Aquatic Capital Management LLC owned 0.06% of KeyCorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Kingsview Wealth Management LLC raised its holdings in shares of KeyCorp by 2.7% in the 3rd quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock valued at $397,000 after acquiring an additional 568 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of KeyCorp by 4.1% during the third quarter. NorthCrest Asset Manangement LLC now owns 15,912 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 627 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of KeyCorp by 0.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 154,818 shares of the financial services provider’s stock worth $2,894,000 after purchasing an additional 660 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in KeyCorp by 0.9% in the third quarter. Sequoia Financial Advisors LLC now owns 81,236 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 694 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in KeyCorp by 14.9% in the third quarter. Parallel Advisors LLC now owns 6,379 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 827 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KEY. Royal Bank Of Canada boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. lifted their price objective on shares of KeyCorp from $22.00 to $24.50 and gave the stock a “neutral” rating in a report on Monday, February 9th. Robert W. Baird set a $19.00 target price on shares of KeyCorp and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Jefferies Financial Group increased their target price on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, December 10th. Finally, TD Cowen restated a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.03.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 62,850 shares of the stock in a transaction dated 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 $5,633,493.25. This represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction that occurred 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 transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 161,506 shares of company stock worth $3,597,481. Company insiders own 0.52% of the company’s stock.

KeyCorp Trading Down 1.8%

KEY stock opened at $18.88 on Monday. The company has a market capitalization of $20.57 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. KeyCorp has a one year low of $12.73 and a one year high of $23.34. The company’s 50 day moving average price is $21.31 and its two-hundred day moving average price is $19.67.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data 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 $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm’s revenue was up 131.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. As a group, analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

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

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.