GAMMA Investing LLC Acquires 5,687 Shares of KeyCorp (NYSE:KEY)

GAMMA Investing LLC increased its holdings in shares of KeyCorp (NYSE:KEY) by 23.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,413 shares of the financial services provider’s stock after acquiring an additional 5,687 shares during the quarter. GAMMA Investing LLC’s holdings in KeyCorp were worth $521,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KEY. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of KeyCorp by 14.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock worth $10,928,000 after acquiring an additional 85,052 shares during the period. MBB Public Markets I LLC bought a new stake in KeyCorp in the 2nd quarter valued at $981,000. Dai ichi Life Insurance Company Ltd acquired a new position in KeyCorp in the 3rd quarter valued at $798,000. Prospector Partners LLC bought a new position in KeyCorp during the 3rd quarter worth $9,630,000. Finally, Natixis Advisors LLC lifted its holdings in shares of KeyCorp by 17.9% during the third quarter. Natixis Advisors LLC now owns 689,469 shares of the financial services provider’s stock worth $11,549,000 after buying an additional 104,689 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Performance

NYSE KEY opened at $17.29 on Monday. KeyCorp has a fifty-two week low of $12.94 and a fifty-two week high of $20.04. The stock has a market cap of $17.14 billion, a PE ratio of 1,729.00, a PEG ratio of 1.00 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s fifty day moving average price is $18.28 and its two-hundred day moving average price is $16.76.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, equities analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s payout ratio is 8,200.00%.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

KEY has been the topic of several research reports. DA Davidson upped their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Piper Sandler lifted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Wedbush increased their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.16.

KeyCorp 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; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.