97,814 Shares in KeyCorp $KEY Bought by OP Asset Management Ltd

OP Asset Management Ltd bought a new stake in KeyCorp (NYSE:KEY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 97,814 shares of the financial services provider’s stock, valued at approximately $1,961,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Maseco LLP acquired a new position in shares of KeyCorp during the 4th quarter worth about $27,000. DV Equities LLC bought a new position in shares of KeyCorp in the 4th quarter valued at about $27,000. GoalVest Advisory LLC bought a new position in shares of KeyCorp in the 4th quarter valued at about $30,000. Smithfield Trust Co acquired a new stake in shares of KeyCorp in the fourth quarter valued at about $31,000. Finally, Kelleher Financial Advisors bought a new stake in KeyCorp during the third quarter worth about $32,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at KeyCorp

In related news, insider Angela G. Mago sold 22,826 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the sale, the insider owned 281,564 shares in the company, valued at approximately $6,098,676.24. This represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the subject of several recent research reports. DA Davidson increased their price target on KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Robert W. Baird boosted their price target on KeyCorp from $19.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, April 17th. Royal Bank Of Canada upped their price objective on KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Truist Financial increased their price objective on KeyCorp from $23.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Stephens started coverage on shares of KeyCorp in a research note on Monday, June 15th. They issued an “overweight” rating and a $26.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.50.

KeyCorp Trading Up 0.2%

Shares of NYSE:KEY opened at $23.30 on Monday. KeyCorp has a 52-week low of $16.47 and a 52-week high of $23.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $25.14 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 0.73 and a beta of 1.03. The company has a 50-day simple moving average of $21.88 and a 200 day simple moving average of $21.27.

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, topping analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. Sell-side analysts forecast that KeyCorp will post 1.82 earnings per share for the current year.

KeyCorp declared that its board has approved a stock buyback plan on Wednesday, May 13th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 13% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.5%. KeyCorp’s payout ratio is presently 50.31%.

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.