Xponance Inc. Purchases 111,753 Shares of KeyCorp $KEY

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

Several other institutional investors have also recently made changes to their positions in KEY. United Community Bank bought a new position in KeyCorp in the 3rd quarter worth about $27,000. Sachetta LLC lifted its holdings in shares of 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. Elevation Point Wealth Partners LLC bought a new stake in shares of KeyCorp in the 2nd quarter valued at about $36,000. Root Financial Partners LLC purchased a new stake in shares of KeyCorp during the third quarter worth about $37,000. Finally, Capital A Wealth Management LLC boosted its stake in shares of KeyCorp by 252.8% during the 2nd quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,603 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction dated Thursday, January 22nd. The stock was 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 approximately $1,276,551.06. The trade was a 35.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of the firm’s stock in a transaction that occurred 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 owned 261,415 shares in the company, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 161,506 shares of company stock valued at $3,597,481 over the last 90 days. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

KEY opened at $20.71 on Friday. The company has a market cap of $22.56 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.65 and a beta of 1.10. 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 has a 52-week low of $12.73 and a 52-week high of $23.34. The firm’s 50-day moving average price is $21.51 and its 200-day moving average price is $19.56.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 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 business 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 business’s quarterly revenue was up 131.8% compared to the same quarter last year. As a group, equities analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KEY. Piper Sandler raised their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Robert W. Baird set a $19.00 price target on shares of KeyCorp and gave the stock a “neutral” rating in a research report on Tuesday. Wells Fargo & Company set a $18.00 target price on shares of KeyCorp and gave the stock an “underperform” rating in a report on Tuesday, January 6th. Barclays increased their price target on shares of KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, January 5th. Finally, The Goldman Sachs Group upped their target price on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Twelve equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.92.

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.