Brevan Howard Capital Management LP Has $10.92 Million Stock Position in KeyCorp $KEY

Brevan Howard Capital Management LP raised its position in KeyCorp (NYSE:KEY) by 130.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 584,471 shares of the financial services provider’s stock after buying an additional 330,967 shares during the period. Brevan Howard Capital Management LP owned 0.05% of KeyCorp worth $10,924,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. United Community Bank bought a new position in shares of KeyCorp in the third quarter valued at approximately $27,000. Sachetta LLC grew its position in KeyCorp by 1,246.1% during the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,595 shares during the last quarter. Kelleher Financial Advisors acquired a new stake in KeyCorp during the 3rd quarter valued at $32,000. Elevation Point Wealth Partners LLC acquired a new stake in KeyCorp during the 2nd quarter valued at $36,000. Finally, Root Financial Partners LLC bought a new position in KeyCorp in the 3rd quarter valued at $37,000. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KEY shares. Morgan Stanley increased their target price on KeyCorp from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Royal Bank Of Canada increased their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Keefe, Bruyette & Woods raised their price objective on shares of KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. Finally, Wells Fargo & Company set a $18.00 target price on shares of KeyCorp and gave the stock an “underperform” rating in a research note on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $23.03.

Insiders Place Their Bets

In other KeyCorp 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 completion of the sale, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. The trade was a 35.77% 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, insider Angela G. Mago sold 62,850 shares of the stock in a transaction on Thursday, January 29th. The shares were 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 in the company, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 161,506 shares of company stock valued at $3,597,481. Company insiders own 0.52% of the company’s stock.

KeyCorp Trading Down 1.8%

Shares of KEY opened at $18.88 on Friday. The stock’s fifty day simple moving average is $21.31 and its 200-day simple moving average is $19.67. The firm has a market capitalization of $20.57 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. KeyCorp has a 12-month low of $12.73 and a 12-month 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.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.95 billion. During the same period last year, the company earned $0.30 earnings per share. The company’s revenue was up 131.8% on a year-over-year basis. As a group, research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd were paid a $0.205 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.3%. KeyCorp’s dividend payout ratio (DPR) is presently 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.