NEOS Investment Management LLC Purchases 41,134 Shares of KeyCorp $KEY

NEOS Investment Management LLC raised its holdings in shares of KeyCorp (NYSE:KEY) by 46.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,821 shares of the financial services provider’s stock after buying an additional 41,134 shares during the period. NEOS Investment Management LLC’s holdings in KeyCorp were worth $2,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of KEY. Brighton Jones LLC bought a new stake in shares of KeyCorp during the fourth quarter worth $476,000. Woodline Partners LP lifted its holdings in 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 buying an additional 24,627 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in KeyCorp by 3.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 47,986 shares of the financial services provider’s stock valued at $858,000 after buying an additional 1,499 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in KeyCorp by 16.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 21,329 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 3,025 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of KeyCorp by 23.2% during the second quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock worth $1,867,000 after acquiring an additional 20,228 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on KEY shares. Evercore increased their price objective on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Piper Sandler upped their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Truist Financial increased their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Royal Bank Of Canada lifted their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.87.

KeyCorp Stock Down 0.8%

KEY stock opened at $21.76 on Friday. The stock has a market capitalization of $23.78 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.66 and a beta of 1.10. KeyCorp has a 52 week low of $12.73 and a 52 week high of $23.34. 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 of $21.44 and a 200 day moving average of $19.40.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results 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 $2.01 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s quarterly revenue was up 131.8% compared to the same quarter last year. Sell-side analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s payout ratio is 53.95%.

Insider Activity at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the transaction, the director owned 58,719 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, insider Angela G. Mago sold 62,850 shares of the firm’s 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 sale, the insider owned 261,415 shares in the company, valued at $5,633,493.25. This trade represents a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 161,506 shares of company stock worth $3,597,481 in the last three months. Company insiders own 0.52% of the company’s stock.

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.