KeyCorp $KEY Shares Bought by Interval Partners LP

Interval Partners LP raised its holdings in KeyCorp (NYSE:KEY) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,189,821 shares of the financial services provider’s stock after acquiring an additional 132,713 shares during the quarter. Interval Partners LP’s holdings in KeyCorp were worth $24,558,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. DV Equities LLC acquired a new stake in KeyCorp in the fourth quarter valued at $27,000. Maseco LLP acquired a new stake in KeyCorp in the fourth quarter valued at $27,000. GoalVest Advisory LLC acquired a new stake in KeyCorp in the fourth quarter valued at $30,000. Smithfield Trust Co acquired a new stake in KeyCorp in the fourth quarter valued at $31,000. Finally, True Wealth Design LLC lifted its holdings in KeyCorp by 1,263.5% in the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 1,592 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Jefferies Financial Group raised their target price on KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 17th. Susquehanna raised their price target on KeyCorp from $300.00 to $415.00 and gave the company a “positive” rating in a research report on Monday, May 18th. Truist Financial dropped their price target on KeyCorp from $23.00 to $22.00 and set a “hold” rating for the company in a research report on Monday, March 23rd. Weiss Ratings upgraded KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group raised their price target on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and an average target price of $44.13.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 22,826 shares of KeyCorp stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the sale, the insider owned 281,564 shares in the company, valued at approximately $6,098,676.24. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

KeyCorp Trading Down 0.8%

Shares of KEY stock opened at $22.57 on Thursday. KeyCorp has a fifty-two week low of $15.68 and a fifty-two week high of $23.34. The stock has a market cap of $24.47 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.72 and a beta of 1.03. The business has a fifty day simple moving average of $21.66 and a 200-day simple moving average of $21.07. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts forecast that KeyCorp will post 1.82 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Tuesday, June 2nd. KeyCorp’s dividend payout ratio (DPR) is currently 50.31%.

KeyCorp announced that its board has approved a share repurchase program on Wednesday, May 13th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 13% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.