Mn Services Vermogensbeheer B.V. Buys 24,300 Shares of KeyCorp $KEY

Mn Services Vermogensbeheer B.V. grew its position in KeyCorp (NYSE:KEY) by 7.1% during the 3rd quarter, Holdings Channel reports. The firm owned 368,910 shares of the financial services provider’s stock after purchasing an additional 24,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in KeyCorp were worth $6,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KEY. Activest Wealth Management grew its stake in KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,404 shares during the last quarter. Sachetta LLC boosted its holdings in shares of KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,595 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of KeyCorp in the 2nd quarter worth approximately $36,000. Root Financial Partners LLC bought a new stake in KeyCorp during the 3rd quarter worth approximately $37,000. Finally, Concord Wealth Partners increased its holdings in KeyCorp by 71.5% during the 2nd quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 910 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on KEY shares. Argus increased their target price on KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group upped their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. TD Cowen reissued a “buy” rating on shares of KeyCorp in a report on Wednesday, January 7th. Truist Financial raised their price objective on shares of KeyCorp from $19.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, December 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of KeyCorp from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Eleven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, KeyCorp has an average rating of “Hold” and a consensus target price of $22.63.

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 32,695 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the completion of the sale, the director owned 58,719 shares in the company, valued at approximately $1,276,551.06. This represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.

KeyCorp Stock Down 2.2%

Shares of NYSE KEY opened at $21.09 on Monday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $22.07. The firm’s 50-day moving average is $20.11 and its 200-day moving average is $18.91. 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 firm has a market capitalization of $23.05 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.51 and a beta of 1.09.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate 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 $2.01 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same period in the prior year, the business posted $0.30 earnings per share. KeyCorp’s revenue was up 131.8% compared to the same quarter last year. Equities analysts expect that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Tuesday, March 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

About KeyCorp

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.