KeyCorp $KEY Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of KeyCorp (NYSE:KEY) by 17.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 167,227 shares of the financial services provider’s stock after acquiring an additional 24,856 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in KeyCorp were worth $3,452,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. United Community Bank acquired a new position in KeyCorp during the 3rd quarter worth about $27,000. Maseco LLP acquired a new position in KeyCorp during the 4th quarter worth about $27,000. GoalVest Advisory LLC acquired a new position in KeyCorp during the 4th quarter worth about $30,000. Sachetta LLC lifted its stake in KeyCorp by 1,246.1% during the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,595 shares in the last quarter. Finally, Kelleher Financial Advisors acquired a new position in KeyCorp during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Activity

In other news, insider Andrew J. Paine III sold 65,961 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $23.23, for a total value of $1,532,274.03. Following the transaction, the insider owned 166,583 shares in the company, valued at approximately $3,869,723.09. This represents a 28.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 62,850 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the completion of the transaction, the insider owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 161,506 shares of company stock worth $3,597,481. 0.56% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KEY. Citigroup reissued a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Piper Sandler increased their price target on KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday. Barclays increased their price target on KeyCorp from $20.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. DA Davidson increased 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. Finally, Evercore reaffirmed an “outperform” rating on shares of KeyCorp in a research report on Tuesday. Twelve analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.13.

KeyCorp Price Performance

KEY stock opened at $22.10 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $23.70 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.71 and a beta of 1.07. The business’s 50-day moving average is $20.68 and its two-hundred day moving average is $19.97. KeyCorp has a 1 year low of $13.90 and a 1 year high of $23.34.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.KeyCorp’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. Analysts anticipate that KeyCorp will post 1.8 earnings per share for the current fiscal year.

About KeyCorp

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.