KeyCorp $KEY Shares Acquired by Xponance Inc.

Xponance Inc. grew its position in KeyCorp (NYSE:KEY) by 31.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 471,949 shares of the financial services provider’s stock after buying an additional 111,753 shares during the quarter. Xponance Inc.’s holdings in KeyCorp were worth $8,821,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. United Community Bank purchased a new position in KeyCorp during the 3rd quarter valued at about $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 stake in KeyCorp in the third quarter valued at about $37,000. Elevation Point Wealth Partners LLC acquired a new position in KeyCorp in the second quarter worth about $36,000. Finally, Capital A Wealth Management LLC lifted its stake in KeyCorp by 252.8% during the second quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 1,603 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 5.3%

KeyCorp stock opened at $20.71 on Friday. KeyCorp has a 52-week low of $12.73 and a 52-week high of $23.34. The firm has a 50 day moving average price of $21.51 and a two-hundred day moving average price of $19.56. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.65 and a beta of 1.10. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm’s revenue was up 131.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. Equities analysts predict that KeyCorp will post 1.5 EPS 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 paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s payout ratio is 53.95%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KEY shares. Evercore boosted their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Robert W. Baird set a $19.00 price objective on KeyCorp and gave the stock a “neutral” rating in a report on Tuesday. Truist Financial upped their price target on KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, January 26th. DA Davidson set a $25.00 price objective on KeyCorp in a research note on Wednesday, January 21st. Finally, Stephens raised their target price 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. Twelve equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.92.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 62,850 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of 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. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Trina M. Evans sold 32,695 shares of KeyCorp 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 transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 161,506 shares of company stock worth $3,597,481. Insiders own 0.52% of the company’s stock.

KeyCorp 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.