Inceptionr LLC Makes New $1.35 Million Investment in KeyCorp $KEY

Inceptionr LLC bought a new position in KeyCorp (NYSE:KEY) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 72,252 shares of the financial services provider’s stock, valued at approximately $1,350,000.

A number of other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in KeyCorp by 1.5% in the second quarter. Geode Capital Management LLC now owns 24,676,571 shares of the financial services provider’s stock worth $428,084,000 after buying an additional 359,573 shares in the last quarter. Invesco Ltd. boosted its position in KeyCorp by 2.4% during the 2nd quarter. Invesco Ltd. now owns 21,112,659 shares of the financial services provider’s stock valued at $367,783,000 after acquiring an additional 488,730 shares in the last quarter. Norges Bank bought a new stake in KeyCorp during the 2nd quarter valued at approximately $195,642,000. Charles Schwab Investment Management Inc. grew its holdings in shares of KeyCorp by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,432,386 shares of the financial services provider’s stock worth $164,312,000 after acquiring an additional 79,670 shares during the period. Finally, Bank of America Corp DE raised its position in shares of KeyCorp by 12.6% in 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 acquiring an additional 879,678 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 62,850 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the sale, the insider directly owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction dated 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 approximately $1,276,551.06. This represents a 35.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 161,506 shares of company stock valued at $3,597,481 in the last quarter. 0.52% of the stock is owned by insiders.

KeyCorp Stock Performance

KeyCorp stock opened at $19.88 on Monday. 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 company has a market capitalization of $21.66 billion, a P/E ratio of 13.08, a PEG ratio of 0.59 and a beta of 1.08. The stock’s 50 day moving average is $21.44 and its 200 day moving average is $19.66. KeyCorp has a twelve month low of $12.73 and a twelve 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 (EPS) for the quarter, beating 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 business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was up 131.8% compared to the same quarter last year. On average, equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently declared 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. This represents a $0.82 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s payout ratio is currently 53.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on KEY shares. Keefe, Bruyette & Woods raised their target price on KeyCorp from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Weiss Ratings raised KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Truist Financial increased their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Argus raised their price objective on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Stephens upped their target price on shares of KeyCorp from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.03.

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.