62,105 Shares in KeyCorp $KEY Acquired by Cane Capital Partners LLC

Cane Capital Partners LLC bought a new position in shares of KeyCorp (NYSE:KEY) during the fourth quarter, HoldingsChannel.com reports. The firm bought 62,105 shares of the financial services provider’s stock, valued at approximately $1,282,000.

Other hedge funds have also recently bought and sold shares of the company. United Community Bank acquired a new stake in KeyCorp during the third quarter worth approximately $27,000. GoalVest Advisory LLC purchased a new position in KeyCorp during the fourth quarter worth approximately $30,000. Sachetta LLC raised its stake in KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,595 shares during the period. Kelleher Financial Advisors purchased a new position in KeyCorp during the third quarter worth approximately $32,000. Finally, True Wealth Design LLC raised its stake in KeyCorp by 1,263.5% during the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 1,592 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Analysts Set New Price Targets

KEY has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. The Goldman Sachs Group cut their price target on shares of KeyCorp from $26.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday. Piper Sandler increased their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Citigroup reaffirmed a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Finally, Wells Fargo & Company set a $18.00 price target on shares of KeyCorp and gave the stock an “underperform” rating in a research note on Tuesday, January 6th. Twelve analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.61.

Insider Activity at KeyCorp

In related news, insider Andrew J. Paine III sold 65,961 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the completion of the sale, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Trina M. Evans sold 32,695 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.74, for a total transaction of $710,789.30. Following the sale, the director directly owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 161,506 shares of company stock valued at $3,597,481. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $20.61 on Wednesday. The company’s fifty day simple moving average is $20.81 and its 200-day simple moving average is $19.76. KeyCorp has a 52 week low of $12.80 and a 52 week high of $23.34. 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 company has a market cap of $22.11 billion, a PE ratio of 13.56, a P/E/G ratio of 0.66 and a beta of 1.07.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 131.8% compared to the same quarter last year. As a group, equities research analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is presently 53.95%.

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.