57,867 KeyCorp $KEY Shares Bought by Machina Capital S.A.S.

Machina Capital S.A.S. boosted its holdings in shares of KeyCorp (NYSE:KEY) by 255.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,487 shares of the financial services provider’s stock after buying an additional 57,867 shares during the quarter. Machina Capital S.A.S.’s holdings in KeyCorp were worth $1,615,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AlphaCore Capital LLC raised its holdings in KeyCorp by 170.1% in the 3rd quarter. AlphaCore Capital LLC now owns 40,922 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 25,770 shares during the period. Fulcrum Asset Management LLP bought a new stake in KeyCorp during the third quarter valued at about $1,971,000. Allspring Global Investments Holdings LLC increased its position in KeyCorp by 7.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 53,820 shares of the financial services provider’s stock worth $1,079,000 after buying an additional 3,912 shares in the last quarter. Candriam S.C.A. bought a new position in shares of KeyCorp in the third quarter worth about $628,000. Finally, Alps Advisors Inc. raised its stake in shares of KeyCorp by 9.3% in the third quarter. Alps Advisors Inc. now owns 1,304,692 shares of the financial services provider’s stock worth $26,185,000 after buying an additional 111,126 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KEY has been the topic of a number of analyst reports. Evercore reaffirmed an “outperform” rating and set a $24.00 price objective on shares of KeyCorp in a research report on Thursday, October 1st. DA Davidson increased their target price on shares of KeyCorp from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. UBS Group decreased their target price on shares of KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Argus raised shares of KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, Stephens reiterated an “overweight” rating and issued a $26.00 price target on shares of KeyCorp in a research report on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.25.

Insider Activity at KeyCorp

In related news, insider Andrew Paine, III sold 39,130 shares of the stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $21.20, for a total transaction of $829,556.00. Following the completion of the transaction, the insider directly owned 191,571 shares of the company’s stock, valued at approximately $4,061,305.20. This represents a 16.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.56% of the company’s stock.

KeyCorp Stock Down 0.5%

Shares of KEY opened at $21.33 on Friday. The business’s 50 day moving average is $20.84 and its 200 day moving average is $21.55. The company has a market capitalization of $22.53 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. KeyCorp has a 12-month low of $16.91 and a 12-month high of $24.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Research analysts expect that KeyCorp will post 1.88 earnings per share for the current fiscal year.

KeyCorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.2050 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Tuesday, December 1st. KeyCorp’s dividend payout ratio is 45.05%.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, and the parent of KeyBank National Association. KeyBank traces its history to 1825 and serves consumers, businesses, and institutions through banking and financial services. The company’s offerings include consumer and small-business banking, commercial lending, treasury and payment services, investment banking, and wealth management. Its commercial and investment banking services are also available to clients beyond its retail branch footprint.