Entropy Technologies LP Makes New Investment in KeyCorp $KEY

Entropy Technologies LP purchased a new stake in shares of KeyCorp (NYSE:KEY) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 377,920 shares of the financial services provider’s stock, valued at approximately $7,063,000.

Several other large investors also recently bought and sold shares of KEY. United Community Bank bought a new stake in shares of KeyCorp in the third quarter worth approximately $27,000. Sachetta LLC grew its position 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 valued at $32,000 after acquiring an additional 1,595 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in KeyCorp in the second quarter worth about $36,000. Root Financial Partners LLC purchased a new stake in KeyCorp in the 3rd quarter worth approximately $37,000. Finally, Capital A Wealth Management LLC increased its stake in shares of 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 worth $39,000 after purchasing an additional 1,603 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of KeyCorp 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the transaction, the director directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 161,506 shares of company stock valued at $3,597,481. 0.52% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

KEY has been the topic of several recent analyst reports. Stephens lifted their target price on KeyCorp from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, December 18th. The Goldman Sachs Group upped their target price on shares of KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Jefferies Financial Group increased their price target on KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, December 10th. TD Cowen reissued a “buy” rating on shares of KeyCorp in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company set a $18.00 target price on KeyCorp and gave the stock an “underperform” rating in a research report on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.03.

KeyCorp Trading Down 2.2%

NYSE:KEY opened at $19.22 on Friday. KeyCorp has a one year low of $12.73 and a one year high of $23.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. The firm has a market cap of $20.94 billion, a P/E ratio of 12.64, a P/E/G ratio of 0.59 and a beta of 1.08. The firm has a 50-day simple moving average of $21.35 and a 200-day simple moving average of $19.67.

KeyCorp (NYSE:KEY) last released 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. The firm had revenue of $5.45 billion for 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 quarterly revenue was up 131.8% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Equities analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

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.