KeyCorp $KEY Shares Sold by LSV Asset Management

LSV Asset Management lowered its holdings in KeyCorp (NYSE:KEY) by 75.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 90,100 shares of the financial services provider’s stock after selling 282,000 shares during the period. LSV Asset Management’s holdings in KeyCorp were worth $1,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caprock Group LLC purchased a new position in shares of KeyCorp during the 3rd quarter valued at approximately $626,000. ABC Arbitrage SA bought a new position in KeyCorp during the 3rd quarter valued at $3,369,000. MQS Management LLC grew its holdings in KeyCorp by 223.8% during the 3rd quarter. MQS Management LLC now owns 47,898 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 33,107 shares in the last quarter. Versor Investments LP increased its position in shares of KeyCorp by 7.6% in the 3rd quarter. Versor Investments LP now owns 29,400 shares of the financial services provider’s stock worth $549,000 after purchasing an additional 2,083 shares during the last quarter. Finally, B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of KeyCorp in the 3rd quarter valued at about $470,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of research reports. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Evercore lifted their target price on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Jefferies Financial Group upped their price target on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, December 10th. Truist Financial lifted their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Finally, Stephens boosted their target price on shares of KeyCorp from $21.00 to $23.00 and gave the company 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 given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.03.

KeyCorp Price Performance

Shares of KEY opened at $21.67 on Tuesday. KeyCorp has a 12 month low of $12.73 and a 12 month 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. The stock has a fifty day moving average price of $21.35 and a 200 day moving average price of $19.34. The company has a market cap of $23.68 billion, a P/E ratio of 14.25, a PEG ratio of 0.53 and a beta of 1.10.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 131.8% compared to the same quarter last year. On average, research analysts forecast 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. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s payout ratio is 53.95%.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 62,850 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 261,415 shares of the company’s stock, valued at $5,633,493.25. This represents a 19.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $710,789.30. Following the sale, the director directly owned 58,719 shares in the company, 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. Over the last three months, insiders sold 161,506 shares of company stock worth $3,597,481. Company insiders own 0.52% of the company’s stock.

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.