KeyCorp $KEY Shares Bought by Oak Thistle LLC

Oak Thistle LLC raised its position in KeyCorp (NYSE:KEY) by 57.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 167,794 shares of the financial services provider’s stock after buying an additional 60,984 shares during the quarter. KeyCorp comprises about 0.5% of Oak Thistle LLC’s holdings, making the stock its 17th largest position. Oak Thistle LLC’s holdings in KeyCorp were worth $3,463,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in KeyCorp by 90.2% in the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after buying an additional 17,245,128 shares during the period. Capital World Investors grew its stake in shares of KeyCorp by 169.2% during the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock worth $388,546,000 after purchasing an additional 13,067,326 shares during the period. Franklin Resources Inc. grew its stake in shares of KeyCorp by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 15,799,619 shares of the financial services provider’s stock worth $295,295,000 after purchasing an additional 397,523 shares during the period. Bank of America Corp DE grew its stake in shares of KeyCorp by 12.6% during the 2nd quarter. Bank of America Corp DE now owns 7,843,378 shares of the financial services provider’s stock worth $136,632,000 after purchasing an additional 879,678 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of KeyCorp by 39.6% during the 3rd quarter. Victory Capital Management Inc. now owns 6,856,534 shares of the financial services provider’s stock worth $128,149,000 after purchasing an additional 1,945,368 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Trina M. Evans sold 32,695 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director directly owned 58,719 shares in the company, valued at approximately $1,276,551.06. This represents a 35.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of the firm’s stock in a transaction 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 transaction, the insider owned 261,415 shares in the company, valued at $5,633,493.25. This trade represents a 19.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 161,506 shares of company stock worth $3,597,481. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KEY shares. Truist Financial lowered their price target on shares of KeyCorp from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, March 23rd. Keefe, Bruyette & Woods boosted their price objective on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings upgraded shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Wells Fargo & Company set a $18.00 price objective on shares of KeyCorp and gave the stock an “underperform” rating in a research report on Tuesday, January 6th. Finally, Jefferies Financial Group boosted their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, December 10th. Twelve analysts have rated the stock with a Buy rating, seven have given 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 an average target price of $22.61.

KeyCorp Trading Down 0.3%

Shares of KEY stock opened at $20.61 on Wednesday. The firm has a market cap of $22.11 billion, a P/E ratio of 13.56, a PEG ratio of 0.66 and a beta of 1.07. KeyCorp has a 1-year low of $12.80 and a 1-year 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 firm’s 50-day simple moving average is $20.81 and its 200-day simple moving average is $19.76.

KeyCorp (NYSE:KEY) last posted its earnings results 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 firm had revenue of $5.45 billion during 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 company’s revenue was up 131.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. As a group, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were given a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 4.0%. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

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.