Tredje AP fonden Acquires 27,845 Shares of KeyCorp $KEY

Tredje AP fonden boosted its holdings in KeyCorp (NYSE:KEY) by 20.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,542 shares of the financial services provider’s stock after buying an additional 27,845 shares during the period. Tredje AP fonden’s holdings in KeyCorp were worth $3,075,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KEY. United Community Bank bought a new position in KeyCorp during the third quarter worth $27,000. Sachetta LLC grew its position in KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,595 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of KeyCorp during the 3rd quarter worth about $37,000. Elevation Point Wealth Partners LLC acquired a new position in shares of KeyCorp during the second quarter valued at about $36,000. Finally, Capital A Wealth Management LLC lifted its stake in shares of 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 valued at $39,000 after buying an additional 1,603 shares during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

KeyCorp stock opened at $22.17 on Friday. The firm has a market capitalization of $24.23 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.66 and a beta of 1.10. The stock has a fifty day moving average price of $21.47 and a two-hundred day moving average price of $19.44. KeyCorp has a 52-week low of $12.73 and a 52-week high of $23.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The company also recently disclosed 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 of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 3.7%. KeyCorp’s dividend payout ratio (DPR) is presently 53.95%.

Analyst Ratings Changes

Several brokerages recently issued reports on KEY. Citigroup restated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Keefe, Bruyette & Woods upped their target price on KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Stephens lifted their price target on shares of KeyCorp from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Truist Financial boosted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a report on Monday, January 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of KeyCorp in a report on Wednesday, January 7th. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.87.

Insider Activity

In other KeyCorp news, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Paine III sold 65,961 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider directly owned 166,583 shares in the company, valued at approximately $3,869,723.09. This represents a 28.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 161,506 shares of company stock worth $3,597,481. Insiders own 0.52% of the company’s stock.

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.