Caxton Associates LP Acquires New Holdings in KeyCorp (KEY)

Caxton Associates LP acquired a new stake in shares of KeyCorp (NYSE:KEY) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 46,128 shares of the financial services provider’s stock, valued at approximately $682,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bruderman Asset Management LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at $26,000. First Interstate Bank increased its position in shares of KeyCorp by 853.0% in the 4th quarter. First Interstate Bank now owns 2,049 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,834 shares during the period. Lindbrook Capital LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at $41,000. Doyle Wealth Management acquired a new position in shares of KeyCorp in the 4th quarter valued at $42,000. Finally, JOYN Advisors Inc. increased its position in shares of KeyCorp by 27.6% in the 4th quarter. JOYN Advisors Inc. now owns 4,031 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 871 shares during the period. Hedge funds and other institutional investors own 79.08% of the company’s stock.

In other KeyCorp news, insider Angela G. Mago sold 4,162 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $17.33, for a total transaction of $72,127.46. Following the sale, the insider now directly owns 128,464 shares of the company’s stock, valued at approximately $2,226,281.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert A. Deangelis sold 31,166 shares of the stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $17.37, for a total value of $541,353.42. Following the sale, the insider now directly owns 196,478 shares in the company, valued at $3,412,822.86. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.

Shares of KEY opened at $17.38 on Friday. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.55 and a beta of 1.22. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.89. KeyCorp has a fifty-two week low of $13.65 and a fifty-two week high of $21.91.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. KeyCorp had a return on equity of 13.26% and a net margin of 24.74%. During the same period last year, the firm earned $0.33 EPS. On average, analysts expect that KeyCorp will post 1.85 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.91%. The ex-dividend date was Monday, March 4th. KeyCorp’s dividend payout ratio is currently 39.31%.

Several research firms recently issued reports on KEY. Zacks Investment Research raised KeyCorp from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Scotiabank reissued a “buy” rating and issued a $36.00 target price on shares of KeyCorp in a research report on Friday, February 22nd. Desjardins reissued an “average” rating and issued a $34.00 target price on shares of KeyCorp in a research report on Tuesday, February 5th. CIBC reissued an “average” rating on shares of KeyCorp in a research report on Monday, February 4th. Finally, Wedbush downgraded KeyCorp from an “outperform” rating to a “neutral” rating and set a $16.63 target price on the stock. in a research report on Monday, February 4th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.74.

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About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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