GAMMA Investing LLC Acquires Shares of 12,653 KeyCorp (NYSE:KEY)

GAMMA Investing LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,653 shares of the financial services provider’s stock, valued at approximately $184,000.

A number of other hedge funds have also bought and sold shares of KEY. IFP Advisors Inc increased its position in KeyCorp by 34.6% during the third quarter. IFP Advisors Inc now owns 9,629 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 2,476 shares during the last quarter. Czech National Bank boosted its stake in shares of KeyCorp by 47.7% during the third quarter. Czech National Bank now owns 163,579 shares of the financial services provider’s stock valued at $1,760,000 after purchasing an additional 52,863 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of KeyCorp by 8.1% during the third quarter. Asset Management One Co. Ltd. now owns 310,668 shares of the financial services provider’s stock valued at $3,343,000 after purchasing an additional 23,218 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of KeyCorp by 4.6% during the third quarter. Handelsbanken Fonder AB now owns 514,768 shares of the financial services provider’s stock valued at $5,539,000 after purchasing an additional 22,417 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of KeyCorp by 21.7% during the third quarter. Commonwealth Equity Services LLC now owns 608,103 shares of the financial services provider’s stock valued at $6,543,000 after purchasing an additional 108,549 shares during the period. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at $277,130. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at $277,130. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the transaction, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,442 shares of company stock worth $303,914. 0.61% of the stock is owned by corporate insiders.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $14.70 on Friday. The company has a market capitalization of $13.63 billion, a PE ratio of 18.61 and a beta of 1.29. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The company has a 50-day simple moving average of $14.76 and a two-hundred day simple moving average of $13.54. KeyCorp has a one year low of $8.53 and a one year high of $15.86.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Research analysts expect that KeyCorp will post 1.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KEY shares. Jefferies Financial Group boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Evercore ISI boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Piper Sandler boosted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. Argus boosted their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, Barclays lowered their price objective on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.71.

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.