ABC Arbitrage SA Takes $3.37 Million Position in KeyCorp $KEY

ABC Arbitrage SA purchased a new position in shares of KeyCorp (NYSE:KEY) in the third quarter, HoldingsChannel reports. The institutional investor purchased 180,270 shares of the financial services provider’s stock, valued at approximately $3,369,000.

A number of other institutional investors also recently added to or reduced their stakes in KEY. MQS Management LLC raised its holdings in shares of KeyCorp by 223.8% in the 3rd quarter. MQS Management LLC now owns 47,898 shares of the financial services provider’s stock worth $895,000 after buying an additional 33,107 shares in the last quarter. Versor Investments LP grew its position in KeyCorp by 7.6% in the third quarter. Versor Investments LP now owns 29,400 shares of the financial services provider’s stock valued at $549,000 after acquiring an additional 2,083 shares during the period. B.O.S.S. Retirement Advisors LLC acquired a new position in KeyCorp during the third quarter worth $470,000. Smartleaf Asset Management LLC lifted its holdings in shares of KeyCorp by 39.3% during the third quarter. Smartleaf Asset Management LLC now owns 30,170 shares of the financial services provider’s stock valued at $570,000 after acquiring an additional 8,504 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of KeyCorp by 7.4% in the 3rd quarter. Bessemer Group Inc. now owns 15,939 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 1,096 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was 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 $5,633,493.25. This trade represents a 19.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trina M. Evans sold 32,695 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total value of $710,789.30. Following the transaction, the director directly owned 58,719 shares of the company’s stock, valued at $1,276,551.06. This trade represents a 35.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 161,506 shares of company stock worth $3,597,481. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Evercore increased their price target on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Argus raised their price target on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Citigroup reissued a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Finally, Truist Financial increased their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, January 26th. Twelve analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Hold” and an average target price of $23.03.

Key Headlines Impacting KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: JPMorgan raised its price target on KEY from $22.00 to $24.50 and kept a “neutral” rating, signaling modest upside and providing support for the recent rally. JPMorgan price target raise
• Positive Sentiment: Activist HoldCo said it will not pursue proxy fights at KeyCorp after the bank agreed to key changes, removing a governance overhang and reducing activist-driven uncertainty. Activist HoldCo backs off
• Positive Sentiment: KeyBank expanded its middle‑market capabilities by adding a five‑person family office and private capital team led by Ward Nixon, highlighting strategic growth initiatives in higher‑margin commercial banking. KeyBank family office hire
• Positive Sentiment: Observers flagged KeyCorp reaching a new 1‑year high after analyst coverage improvements, a driver of recent momentum but also of near‑term profit taking. KeyCorp reaches new 1-year high
• Neutral Sentiment: Management presented at recent industry conferences (UBS and Bank of America); transcripts are available — useful for investors who want updated management commentary on strategy, capital deployment and loan growth, but they contained no headline surprises. UBS presentation BofA transcript
• Negative Sentiment: Insider Andrew J. Paine III sold 65,961 shares at an average price of $23.23 (about $1.53M), reducing his stake by ~28%. Large insider selling can trigger near‑term selling pressure and raise investor caution even if disclosed as routine. Insider sale disclosure

KeyCorp Stock Performance

Shares of NYSE:KEY opened at $22.95 on Wednesday. The firm’s 50 day simple moving average is $21.13 and its 200 day simple moving average is $19.23. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $23.34. The company has a market capitalization of $25.08 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.56 and a beta of 1.10. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82.

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

KeyCorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

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.