KeyCorp (NYSE:KEY) saw some unusual options trading on Friday. Investors purchased 9,178 put options on the stock. This is an increase of approximately 709% compared to the typical daily volume of 1,135 put options.

KEY has been the topic of several analyst reports. FBR & Co reaffirmed an “outperform” rating and set a $22.00 target price (up previously from $21.00) on shares of KeyCorp in a research report on Thursday, April 20th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of KeyCorp in a research report on Friday, April 21st. Nomura reissued a “buy” rating and issued a $23.00 price objective on shares of KeyCorp in a research report on Friday, April 21st. Instinet reissued a “buy” rating and issued a $23.00 price objective (up previously from $22.00) on shares of KeyCorp in a research report on Sunday, April 23rd. Finally, Keefe, Bruyette & Woods set a $20.00 price objective on KeyCorp and gave the stock a “hold” rating in a research report on Saturday, April 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.78.

KeyCorp (KEY) opened at 18.40 on Monday. The stock has a market capitalization of $20.11 billion, a PE ratio of 18.27 and a beta of 1.11. The stock has a 50 day moving average price of $18.63 and a 200-day moving average price of $18.26. KeyCorp has a 12-month low of $11.89 and a 12-month high of $19.53.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. KeyCorp had a return on equity of 11.19% and a net margin of 25.03%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 52.1% compared to the same quarter last year. On average, equities analysts anticipate that KeyCorp will post $1.36 earnings per share for the current fiscal year.

KeyCorp announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $800.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.38 annualized dividend and a dividend yield of 2.07%. KeyCorp’s dividend payout ratio (DPR) is 38.78%.

In related news, Director David K. Wilson bought 3,500 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were bought at an average price of $17.87 per share, with a total value of $62,545.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $268,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander M. Cutler bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were bought at an average cost of $18.55 per share, for a total transaction of $92,750.00. Following the transaction, the director now owns 55,000 shares of the company’s stock, valued at $1,020,250. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 14,000 shares of company stock worth $254,720. 0.65% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Equity Investment Corp Acquisition Inc boosted its stake in shares of KeyCorp by 3.9% in the second quarter. Equity Investment Corp Acquisition Inc now owns 10,465 shares of the financial services provider’s stock valued at $196,000 after buying an additional 390 shares during the period. MARSHALL WACE ASIA Ltd boosted its stake in shares of KeyCorp by 149.7% in the second quarter. MARSHALL WACE ASIA Ltd now owns 2,557,350 shares of the financial services provider’s stock valued at $48,589,000 after buying an additional 1,533,133 shares during the period. Cadence Capital Management LLC boosted its stake in shares of KeyCorp by 3.5% in the second quarter. Cadence Capital Management LLC now owns 43,759 shares of the financial services provider’s stock valued at $820,000 after buying an additional 1,461 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of KeyCorp by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 1,725,257 shares of the financial services provider’s stock valued at $32,331,000 after buying an additional 15,354 shares during the period. Finally, Marshall Wace North America L.P. boosted its stake in shares of KeyCorp by 371.2% in the second quarter. Marshall Wace North America L.P. now owns 1,288,565 shares of the financial services provider’s stock valued at $24,483,000 after buying an additional 1,015,079 shares during the period. 81.27% of the stock is currently owned by hedge funds and other institutional investors.

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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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