181,055 Shares in KeyCorp $KEY Acquired by Magnetar Financial LLC

Magnetar Financial LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 181,055 shares of the financial services provider’s stock, valued at approximately $3,384,000.

Other institutional investors and hedge funds 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 3rd quarter valued at $27,000. Sachetta LLC raised 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 buying an additional 1,595 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of KeyCorp during the 2nd quarter worth $36,000. Root Financial Partners LLC acquired a new stake in KeyCorp in the third quarter valued at about $37,000. Finally, Capital A Wealth Management LLC boosted its stake in KeyCorp by 252.8% in the second quarter. Capital A Wealth Management LLC now owns 2,237 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,603 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on KEY. DA Davidson set a $25.00 target price on KeyCorp in a research note on Wednesday, January 21st. Barclays raised their price target on shares of KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Truist Financial lifted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a report on Monday, January 26th. Jefferies Financial Group upped 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. Finally, Robert W. Baird set a $19.00 price objective on shares of KeyCorp and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.03.

KeyCorp Price Performance

Shares of KEY opened at $19.63 on Thursday. 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 stock has a market cap of $21.39 billion, a PE ratio of 12.91, a PEG ratio of 0.59 and a beta of 1.08. KeyCorp has a 12-month low of $12.73 and a 12-month high of $23.34. The business has a 50-day simple moving average of $21.38 and a two-hundred day simple moving average of $19.67.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 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 firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 131.8% on a year-over-year basis. Analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 4.2%. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction on 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 transaction, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew J. Paine III sold 65,961 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the completion of the sale, the insider directly owned 166,583 shares in the company, valued at approximately $3,869,723.09. This represents a 28.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 161,506 shares of company stock valued at $3,597,481 in the last ninety days. 0.52% of the stock is currently owned by insiders.

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.