Handelsbanken Fonder AB Has $944,000 Position in KeyCorp $KEY

Handelsbanken Fonder AB lessened its holdings in shares of KeyCorp (NYSE:KEY) by 48.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,529 shares of the financial services provider’s stock after selling 47,375 shares during the quarter. Handelsbanken Fonder AB’s holdings in KeyCorp were worth $944,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Andra AP fonden bought a new stake in shares of KeyCorp during the third quarter worth about $4,342,000. Xponance Inc. lifted its position in KeyCorp by 31.0% in the 3rd quarter. Xponance Inc. now owns 471,949 shares of the financial services provider’s stock valued at $8,821,000 after acquiring an additional 111,753 shares in the last quarter. DNB Asset Management AS boosted its stake in KeyCorp by 1.1% during the 3rd quarter. DNB Asset Management AS now owns 168,809 shares of the financial services provider’s stock valued at $3,155,000 after purchasing an additional 1,767 shares during the last quarter. Choreo LLC increased its holdings in KeyCorp by 132.7% during the 3rd quarter. Choreo LLC now owns 85,098 shares of the financial services provider’s stock worth $1,590,000 after purchasing an additional 48,526 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of KeyCorp by 0.9% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,851,108 shares of the financial services provider’s stock worth $34,597,000 after purchasing an additional 16,896 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on KEY. Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a research report on Wednesday, December 31st. Barclays lifted their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Evercore raised their price target on shares of KeyCorp from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Stephens boosted their price target on shares of KeyCorp from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, Truist Financial increased their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.03.

KeyCorp Stock Performance

NYSE KEY opened at $20.37 on Friday. The company has a market capitalization of $22.20 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 0.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. KeyCorp has a 52-week low of $12.73 and a 52-week high of $23.34. The company has a 50-day simple moving average of $21.47 and a 200 day simple moving average of $19.63.

KeyCorp (NYSE:KEY) last released its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $5.45 billion during 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 revenue was up 131.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. On average, research analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid 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 payout ratio is presently 53.95%.

Insider Activity

In other news, insider Andrew J. Paine III sold 65,961 shares of the company’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 transaction, the insider owned 166,583 shares of the company’s stock, valued at $3,869,723.09. This represents a 28.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction dated 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 completion of the sale, the insider directly owned 261,415 shares of the company’s stock, 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 have sold 161,506 shares of company stock valued at $3,597,481 in the last 90 days. Insiders own 0.52% of the company’s stock.

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.