377,920 Shares in KeyCorp $KEY Acquired by Entropy Technologies LP

Entropy Technologies LP bought a new stake in shares of KeyCorp (NYSE:KEY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 377,920 shares of the financial services provider’s stock, valued at approximately $7,063,000.

Several other institutional investors also recently bought and sold shares of the company. Marshall Wace LLP grew its stake in KeyCorp by 2,258.4% during the 2nd quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock worth $44,821,000 after buying an additional 2,463,880 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in KeyCorp by 2.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,013,977 shares of the financial services provider’s stock valued at $37,641,000 after buying an additional 53,682 shares during the last quarter. Synovus Financial Corp acquired a new stake in KeyCorp in the third quarter worth about $2,253,000. Prudential Financial Inc. grew its stake in shares of KeyCorp by 9.9% during the second quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock worth $10,018,000 after acquiring an additional 51,705 shares during the last quarter. Finally, HoldCo Asset Management LP purchased a new stake in KeyCorp during the 2nd quarter worth approximately $86,995,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the sale, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 62,850 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the sale, the insider directly owned 261,415 shares of the company’s stock, valued at $5,633,493.25. The trade was 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 valued at $3,597,481 over the last quarter. 0.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on KEY shares. Evercore boosted their price target on KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. raised their price target on shares of KeyCorp from $22.00 to $24.50 and gave the company a “neutral” rating in a research report on Monday, February 9th. Royal Bank Of Canada raised 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. Piper Sandler lifted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Finally, DA Davidson set a $25.00 price target on KeyCorp in a research note on Wednesday, January 21st. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $23.03.

KeyCorp Stock Performance

NYSE KEY opened at $19.22 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s fifty day moving average is $21.35 and its two-hundred day moving average is $19.67. The firm has a market capitalization of $20.94 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.59 and a beta of 1.08. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $23.34.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.95 billion. During the same period last year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 131.8% on a year-over-year basis. On average, research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.3%. KeyCorp’s dividend payout ratio (DPR) is currently 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.