Capital International Inc. CA Has $9.19 Million Stock Position in KeyCorp $KEY

Capital International Inc. CA grew its stake in KeyCorp (NYSE:KEY) by 248.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 491,455 shares of the financial services provider’s stock after purchasing an additional 350,555 shares during the period. Capital International Inc. CA’s holdings in KeyCorp were worth $9,185,000 as of its most recent filing with the Securities and Exchange Commission.

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

KeyCorp Price Performance

KeyCorp stock opened at $19.77 on Wednesday. The business’s 50-day simple moving average is $21.40 and its 200 day simple moving average is $19.67. 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 stock has a market cap of $21.54 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.59 and a beta of 1.08. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data 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. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The firm had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the previous year, the business posted $0.30 EPS. The company’s quarterly revenue was up 131.8% compared to the same quarter last year. As a group, 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. Investors 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 dividend yield of 4.1%. 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, insider Andrew J. Paine III sold 65,961 shares of KeyCorp 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 completion of the sale, the insider 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Trina M. Evans sold 32,695 shares of the company’s 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 sale, the director owned 58,719 shares of the company’s stock, valued at $1,276,551.06. The trade was a 35.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 161,506 shares of company stock worth $3,597,481 over the last ninety days. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of KeyCorp from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Truist Financial lifted 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. Weiss Ratings raised shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Finally, Evercore lifted 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. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.03.

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.