Inceptionr LLC Acquires New Shares in KeyCorp $KEY

Inceptionr LLC bought a new stake in shares of KeyCorp (NYSE:KEY) during the 3rd quarter, HoldingsChannel reports. The firm bought 72,252 shares of the financial services provider’s stock, valued at approximately $1,350,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of KeyCorp in the second quarter worth $195,642,000. HoldCo Asset Management LP bought a new stake in KeyCorp in the 2nd quarter worth about $86,995,000. JPMorgan Chase & Co. raised its position in KeyCorp by 123.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,182,671 shares of the financial services provider’s stock worth $125,122,000 after buying an additional 3,967,544 shares during the last quarter. Azora Capital LP raised its position in KeyCorp by 131.4% in the 2nd quarter. Azora Capital LP now owns 5,369,008 shares of the financial services provider’s stock worth $93,528,000 after buying an additional 3,049,155 shares during the last quarter. Finally, Marshall Wace LLP lifted 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 valued at $44,821,000 after acquiring an additional 2,463,880 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

NYSE KEY opened at $19.88 on Monday. The company has a 50-day moving average price of $21.44 and a 200-day moving average price of $19.66. 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 market capitalization of $21.66 billion, a P/E ratio of 13.08, a PEG ratio of 0.59 and a beta of 1.08.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data 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. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Equities research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 4.1%. KeyCorp’s dividend payout ratio (DPR) is presently 53.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KEY. Royal Bank Of Canada raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Truist Financial boosted their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a report on Monday, January 26th. Stephens raised their target price on shares of KeyCorp from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Argus lifted their target price on shares of KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, TD Cowen reiterated a “buy” rating on shares of KeyCorp in a research note on Wednesday, January 7th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.03.

Insider Transactions at KeyCorp

In other news, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the transaction, the director owned 58,719 shares in the company, valued at $1,276,551.06. This trade represents a 35.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the sale, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 161,506 shares of company stock worth $3,597,481 in the last 90 days. 0.52% of the stock is currently owned by insiders.

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.