KeyCorp Target of Unusually Large Options Trading (NYSE:KEY)

KeyCorp (NYSE:KEY) was the target of some unusual options trading activity on Friday. Traders acquired 61,868 call options on the company. This is an increase of approximately 680% compared to the average daily volume of 7,934 call options.

KeyCorp Stock Down 0.1%

Shares of KEY stock traded down $0.02 during mid-day trading on Friday, reaching $17.61. 12,378,229 shares of the company were exchanged, compared to its average volume of 19,250,098. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50 day simple moving average is $18.17 and its 200 day simple moving average is $17.55. The company has a market capitalization of $19.24 billion, a P/E ratio of 21.71, a P/E/G ratio of 0.52 and a beta of 1.18. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the firm posted ($0.47) EPS. The firm’s revenue was up 172.7% compared to the same quarter last year. Research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

Insider Activity

In related news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently modified their holdings of the company. Kingsview Wealth Management LLC raised its position in shares of KeyCorp by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 568 shares during the period. Dakota Wealth Management lifted its holdings in shares of KeyCorp by 2.2% during the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after buying an additional 586 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its position in shares of KeyCorp by 4.8% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock valued at $233,000 after acquiring an additional 608 shares during the period. NorthCrest Asset Manangement LLC increased its position in 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 acquiring an additional 627 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV grew its position in KeyCorp by 2.9% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 639 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on KEY. Wells Fargo & Company raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. Jefferies Financial Group cut their target price on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of KeyCorp in a research report on Friday, October 31st. Royal Bank Of Canada increased their price target on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Finally, UBS Group increased their target price on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.75.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.