KeyCorp Sees Unusually High Options Volume (NYSE:KEY)

KeyCorp (NYSE:KEY) was the target of unusually large options trading on Friday. Traders acquired 12,210 call options on the company. This is an increase of 55% compared to the typical daily volume of 7,871 call options.

KeyCorp Stock Performance

NYSE:KEY opened at $17.69 on Friday. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The business’s fifty day moving average is $18.06 and its 200 day moving average is $17.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.88 and a current ratio of 0.85. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of -58.96, a PEG ratio of 0.65 and a beta of 1.27.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

Wall Street Analyst Weigh In

KEY has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler increased their price target on KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Truist Financial started coverage on KeyCorp in a report on Tuesday, January 7th. They set a “hold” rating and a $19.00 price target on the stock. Morgan Stanley decreased their target price on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Evercore ISI lifted their target price on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.58.

Insider Buying and Selling

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

Hedge Funds Weigh In On KeyCorp

Large investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its position in KeyCorp by 4.6% during the second quarter. Pacer Advisors Inc. now owns 67,218 shares of the financial services provider’s stock worth $955,000 after buying an additional 2,985 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of KeyCorp by 4.8% during the second quarter. Ensign Peak Advisors Inc now owns 366,336 shares of the financial services provider’s stock worth $5,206,000 after purchasing an additional 16,650 shares in the last quarter. ProShare Advisors LLC increased its position in shares of KeyCorp by 5.5% in the second quarter. ProShare Advisors LLC now owns 191,470 shares of the financial services provider’s stock worth $2,721,000 after purchasing an additional 10,052 shares during the last quarter. Public Sector Pension Investment Board raised its stake in KeyCorp by 8.5% in the second quarter. Public Sector Pension Investment Board now owns 159,883 shares of the financial services provider’s stock valued at $2,272,000 after purchasing an additional 12,575 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in KeyCorp by 4,518.6% during the second quarter. Marshall Wace LLP now owns 845,211 shares of the financial services provider’s stock valued at $12,010,000 after purchasing an additional 826,911 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

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; 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.