KeyCorp $KEY Shares Acquired by Interval Partners LP

Interval Partners LP grew its position in KeyCorp (NYSE:KEY) by 12.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 owned about 0.11% of KeyCorp worth $24,558,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Investment Management Corp of Ontario boosted its holdings in shares of KeyCorp by 44.4% in the fourth quarter. Investment Management Corp of Ontario now owns 63,087 shares of the financial services provider’s stock valued at $1,302,000 after acquiring an additional 19,408 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of KeyCorp by 2.6% in the fourth quarter. Janus Henderson Group PLC now owns 71,065 shares of the financial services provider’s stock valued at $1,466,000 after acquiring an additional 1,811 shares during the period. Gotham Asset Management LLC boosted its holdings in shares of KeyCorp by 6.2% in the fourth quarter. Gotham Asset Management LLC now owns 18,255 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 1,066 shares during the period. Evolve Private Wealth LLC acquired a new stake in shares of KeyCorp in the fourth quarter valued at approximately $340,000. Finally, Engineers Gate Manager LP boosted its holdings in shares of KeyCorp by 31.6% in the fourth quarter. Engineers Gate Manager LP now owns 270,264 shares of the financial services provider’s stock valued at $5,578,000 after acquiring an additional 64,914 shares during the period. 79.69% of the stock is 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 transaction of $494,411.16. Following the completion of the sale, the insider directly owned 281,564 shares of the company’s stock, valued at $6,098,676.24. This trade represents a 7.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

KeyCorp Price Performance

Shares of NYSE KEY opened at $22.57 on Thursday. 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 stock has a fifty day moving average price of $21.66 and a 200 day moving average price of $21.07. KeyCorp has a 1-year low of $15.68 and a 1-year high of $23.34. The company has a market cap of $24.47 billion, a PE ratio of 13.85, a P/E/G ratio of 0.72 and a beta of 1.03.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts forecast that KeyCorp will post 1.82 EPS for the current year.

KeyCorp announced that its board has approved a share repurchase plan on Wednesday, May 13th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 13% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

KeyCorp Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 3.6%. KeyCorp’s dividend payout ratio (DPR) is currently 50.31%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on KEY shares. Truist Financial decreased their price objective on KeyCorp from $23.00 to $22.00 and set a “hold” rating for the company in a report on Monday, March 23rd. Piper Sandler increased their price objective on KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Wall Street Zen downgraded KeyCorp from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Royal Bank Of Canada increased their price target on KeyCorp from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Finally, The Goldman Sachs Group increased their price target on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.13.

KeyCorp 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.