Vinva Investment Management Ltd Makes New $1.38 Million Investment in KeyCorp $KEY

Vinva Investment Management Ltd acquired a new stake in shares of KeyCorp (NYSE:KEY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 73,246 shares of the financial services provider’s stock, valued at approximately $1,383,000.

Other large investors have also made changes to their positions in the company. Marshall Wace LLP boosted its position in KeyCorp by 2,258.4% in the second quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider’s stock valued at $44,821,000 after buying an additional 2,463,880 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of KeyCorp by 2.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,013,977 shares of the financial services provider’s stock worth $37,641,000 after buying an additional 53,682 shares in the last quarter. Synovus Financial Corp bought a new position in shares of KeyCorp in the third quarter valued at approximately $2,253,000. Prudential Financial Inc. raised its stake in shares of KeyCorp by 9.9% in the second quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider’s stock valued at $10,018,000 after acquiring an additional 51,705 shares during the last quarter. Finally, HoldCo Asset Management LP acquired a new position in shares of KeyCorp in the 2nd quarter worth approximately $86,995,000. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In other news, insider Angela G. Mago sold 62,850 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $21.55, for a total value of $1,354,417.50. Following the transaction, the insider owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Trina M. Evans sold 32,695 shares of KeyCorp stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the sale, the director owned 58,719 shares of the company’s stock, valued at approximately $1,276,551.06. This represents a 35.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 161,506 shares of company stock worth $3,597,481 over the last three months. 0.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KEY shares. Truist Financial increased their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Royal Bank Of Canada boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Weiss Ratings upgraded KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 25th. Morgan Stanley raised their target price on KeyCorp from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Finally, Piper Sandler lifted their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $23.03.

KeyCorp Stock Performance

KEY stock opened at $19.70 on Tuesday. The company has a 50 day moving average price of $21.42 and a 200 day moving average price of $19.67. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $23.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market capitalization of $21.47 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.59 and a beta of 1.08.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The business’s quarterly revenue was up 131.8% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. Analysts forecast that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Tuesday, March 3rd will be issued a $0.205 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a yield of 4.2%. KeyCorp’s dividend payout ratio (DPR) is currently 53.95%.

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.