rhino investment partners Inc increased its holdings in KeyCorp (NYSE:KEY – Free Report) by 26.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,600,942 shares of the financial services provider’s stock after buying an additional 748,881 shares during the quarter. KeyCorp accounts for about 10.6% of rhino investment partners Inc’s investment portfolio, making the stock its 2nd largest position. rhino investment partners Inc owned approximately 0.38% of KeyCorp worth $38,746,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Oppenheimer & Co. Inc. purchased a new position in KeyCorp during the second quarter valued at $199,000. Barclays PLC raised its stake in KeyCorp by 78.1% during the 2nd quarter. Barclays PLC now owns 2,380,504 shares of the financial services provider’s stock worth $21,995,000 after acquiring an additional 1,044,148 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of KeyCorp by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock worth $248,844,000 after purchasing an additional 3,216,584 shares in the last quarter. Rheos Capital Works Inc. purchased a new stake in KeyCorp in the 3rd quarter worth $5,380,000. Finally, LPL Financial LLC boosted its position in shares of KeyCorp by 0.9% during the second quarter. LPL Financial LLC now owns 1,541,902 shares of the financial services provider’s stock worth $14,247,000 after acquiring an additional 14,192 shares during the last quarter. Institutional investors own 77.77% of the company’s stock.
KeyCorp Price Performance
KEY stock traded up $0.10 on Thursday, reaching $14.36. 7,242,055 shares of the company’s stock were exchanged, compared to its average volume of 19,063,857. The stock has a fifty day moving average of $14.27 and a 200-day moving average of $12.30. KeyCorp has a twelve month low of $8.53 and a twelve month high of $18.56. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The firm has a market cap of $13.44 billion, a PE ratio of 16.18 and a beta of 1.29.
KeyCorp (NYSE:KEY – Get Free Report) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts predict that KeyCorp will post 1.22 EPS for the current fiscal year.
KeyCorp Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th will be given a $0.205 dividend. The ex-dividend date is Monday, February 26th. This represents a $0.82 dividend on an annualized basis and a yield of 5.71%. KeyCorp’s payout ratio is currently 92.13%.
Insider Transactions at KeyCorp
In other news, CAO Douglas M. Schosser sold 14,383 shares of KeyCorp stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $13.37, for a total value of $192,300.71. Following the completion of the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at approximately $264,659.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other KeyCorp news, CAO Douglas M. Schosser sold 14,383 shares of KeyCorp stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $13.37, for a total transaction of $192,300.71. Following the completion of the sale, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $264,659.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the transaction, the director now directly owns 81,622 shares in the company, valued at $1,161,481.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,825 shares of company stock valued at $496,214. 0.61% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities research analysts recently weighed in on KEY shares. Barclays reduced their price target on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, January 19th. Keefe, Bruyette & Woods dropped their price target on shares of KeyCorp from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. Piper Sandler increased their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Raymond James initiated coverage on KeyCorp in a research report on Monday, January 8th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company lifted their price target on shares of KeyCorp from $12.00 to $16.00 and gave the company an “overweight” rating in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.
KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.