Stock Traders Buy High Volume of Put Options on KeyCorp (KEY)
KeyCorp (NYSE:KEY) saw unusually large options trading on Friday. Stock investors acquired 5,961 put options on the stock. This is an increase of 2,304% compared to the typical daily volume of 248 put options.
In related news, insider Andrew J. Paine III sold 46,854 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $18.56, for a total value of $869,610.24. Following the sale, the insider now directly owns 110,052 shares of the company’s stock, valued at $2,042,565.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carlton L. Highsmith sold 7,600 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $18.39, for a total value of $139,764.00. Following the completion of the sale, the director now directly owns 68,725 shares in the company, valued at $1,263,852.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,212 shares of company stock worth $1,060,508. 0.65% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KEY. Meeder Asset Management Inc. lifted its holdings in shares of KeyCorp by 78.0% during the third quarter. Meeder Asset Management Inc. now owns 56,046 shares of the financial services provider’s stock valued at $1,055,000 after purchasing an additional 24,554 shares in the last quarter. Flippin Bruce & Porter Inc. lifted its holdings in shares of KeyCorp by 3.9% during the second quarter. Flippin Bruce & Porter Inc. now owns 451,881 shares of the financial services provider’s stock valued at $8,468,000 after purchasing an additional 17,103 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of KeyCorp by 11.1% during the third quarter. Toronto Dominion Bank now owns 428,912 shares of the financial services provider’s stock valued at $8,071,000 after purchasing an additional 42,971 shares in the last quarter. Greenwood Capital Associates LLC lifted its holdings in shares of KeyCorp by 1.3% during the second quarter. Greenwood Capital Associates LLC now owns 41,874 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 534 shares in the last quarter. Finally, Private Capital Management Inc. lifted its holdings in shares of KeyCorp by 29.7% during the third quarter. Private Capital Management Inc. now owns 27,500 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 6,300 shares in the last quarter. 81.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of KeyCorp (KEY) opened at $19.33 on Wednesday. KeyCorp has a 12 month low of $16.28 and a 12 month high of $19.93. The company has a market capitalization of $20,572.40, a price-to-earnings ratio of 14.49, a PEG ratio of 1.74 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 1.06.
KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. KeyCorp had a return on equity of 10.35% and a net margin of 18.69%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. equities research analysts anticipate that KeyCorp will post 1.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be paid a $0.105 dividend. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, November 27th. KeyCorp’s dividend payout ratio is currently 36.84%.
KEY has been the topic of several recent research reports. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Citigroup upped their price target on KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 9th. Robert W. Baird reaffirmed a “hold” rating and issued a $18.00 price target on shares of KeyCorp in a research note on Friday, October 6th. ValuEngine raised KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Sanford C. Bernstein raised KeyCorp from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $21.00 to $22.00 in a research note on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $21.09.
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KeyCorp Company Profile
KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.
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