KeyCorp $KEY Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in shares of KeyCorp (NYSE:KEY) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,018,562 shares of the financial services provider’s stock after selling 55,311 shares during the quarter. Principal Financial Group Inc.’s holdings in KeyCorp were worth $19,037,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Thrivent Financial for Lutherans increased its position in shares of KeyCorp by 8.6% in the third quarter. Thrivent Financial for Lutherans now owns 5,120,276 shares of the financial services provider’s stock valued at $95,698,000 after buying an additional 407,437 shares in the last quarter. National Pension Service grew its stake in KeyCorp by 30.6% in the 3rd quarter. National Pension Service now owns 198,659 shares of the financial services provider’s stock valued at $3,713,000 after acquiring an additional 46,509 shares during the period. AlphaQuest LLC grew its stake in KeyCorp by 1,637.0% in the 3rd quarter. AlphaQuest LLC now owns 105,885 shares of the financial services provider’s stock valued at $1,979,000 after acquiring an additional 99,789 shares during the period. Arizona State Retirement System increased its holdings in KeyCorp by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 275,444 shares of the financial services provider’s stock worth $5,148,000 after acquiring an additional 3,225 shares in the last quarter. Finally, AE Wealth Management LLC raised its position in KeyCorp by 4.6% during the third quarter. AE Wealth Management LLC now owns 1,345,875 shares of the financial services provider’s stock worth $25,154,000 after acquiring an additional 59,202 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on KEY. Argus lifted their target price on shares of KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Truist Financial upped their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. The Goldman Sachs Group lifted their price objective on KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Keefe, Bruyette & Woods boosted their price objective on KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada increased their target price on KeyCorp from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Twelve research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.90.

Insider Buying and Selling at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the sale, the director directly owned 58,719 shares in the company, valued at approximately $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela G. Mago sold 62,850 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the transaction, the insider owned 261,415 shares in the company, valued at $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.52% of the stock is owned by insiders.

KeyCorp Stock Up 2.4%

KEY stock opened at $23.24 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $20.95 and a two-hundred day moving average of $19.17. KeyCorp has a 12 month low of $12.73 and a 12 month high of $23.29. The company has a market cap of $25.40 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.56 and a beta of 1.10.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business earned $0.30 earnings per share. The business’s revenue was up 131.8% compared to the same quarter last year. As a group, analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.5%. KeyCorp’s dividend payout ratio (DPR) is 53.95%.

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.