AlphaQuest LLC Purchases 105,707 Shares of KeyCorp $KEY

AlphaQuest LLC increased its position in KeyCorp (NYSE:KEY) by 99.8% during the 4th quarter, Holdings Channel reports. The firm owned 211,592 shares of the financial services provider’s stock after acquiring an additional 105,707 shares during the quarter. KeyCorp comprises approximately 0.2% of AlphaQuest LLC’s investment portfolio, making the stock its 21st largest holding. AlphaQuest LLC’s holdings in KeyCorp were worth $4,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KEY. Prime Capital Investment Advisors LLC increased its position in KeyCorp by 1.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 486 shares during the period. Harbour Investments Inc. increased its position in KeyCorp by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 508 shares during the period. Centennial Wealth Advisory LLC increased its position in KeyCorp by 1.2% during the 4th quarter. Centennial Wealth Advisory LLC now owns 44,986 shares of the financial services provider’s stock valued at $929,000 after purchasing an additional 524 shares during the period. CoreCap Advisors LLC increased its position in KeyCorp by 4.6% during the 4th quarter. CoreCap Advisors LLC now owns 12,198 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 539 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in KeyCorp by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 21,255 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 568 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 0.1%

KeyCorp stock opened at $21.59 on Tuesday. 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 market capitalization of $23.40 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.69 and a beta of 1.06. KeyCorp has a 1-year low of $15.28 and a 1-year high of $23.34. The business has a fifty day moving average price of $20.93 and a 200-day moving average price of $20.58.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. Equities research analysts forecast that KeyCorp will post 1.82 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Tuesday, June 2nd will be given a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.8%. KeyCorp’s dividend payout ratio (DPR) is presently 50.31%.

KeyCorp announced that its board has authorized a share buyback program 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 programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms have commented on KEY. Jefferies Financial Group raised their target price on shares of KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a research 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. DA Davidson lifted their price target on KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a report on Monday, May 4th. Piper Sandler lifted their price target on KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. cut their target price on KeyCorp from $24.50 to $22.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.78.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 22,826 shares of the firm’s 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 completion of the sale, the insider owned 281,564 shares of the company’s stock, valued at $6,098,676.24. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by insiders.

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.