1,181,467 Shares in KeyCorp $KEY Acquired by Eisler Capital Management Ltd.

Key Points

• Eisler Capital Management Ltd. acquired 1,181,467 shares of KeyCorp, valued at approximately $18.89 million, making it their 22nd largest position.
• KeyCorp reported $0.35 earnings per share for the latest quarter, slightly surpassing the consensus estimate of $0.34, with a revenue of $1.84 billion.
• The firm announced a quarterly dividend of $0.205 per share, providing a yield of 4.3%, with the ex-dividend date set for September 2nd.

Eisler Capital Management Ltd. bought a new position in KeyCorp (NYSE:KEY - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,181,467 shares of the financial services provider's stock, valued at approximately $18,892,000. KeyCorp makes up about 0.1% of Eisler Capital Management Ltd.'s investment portfolio, making the stock its 22nd biggest position. Eisler Capital Management Ltd. owned 0.11% of KeyCorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ceredex Value Advisors LLC raised its holdings in shares of KeyCorp by 20.3% in the 1st quarter. Ceredex Value Advisors LLC now owns 5,227,770 shares of the financial services provider's stock worth $83,592,000 after purchasing an additional 883,059 shares in the last quarter. Comerica Bank raised its holdings in shares of KeyCorp by 16.8% during the first quarter. Comerica Bank now owns 1,135,235 shares of the financial services provider's stock valued at $18,152,000 after acquiring an additional 163,346 shares during the period. ICONIQ Capital LLC acquired a new stake in shares of KeyCorp during the first quarter valued at approximately $174,000. Quantitative Investment Management LLC acquired a new stake in shares of KeyCorp during the first quarter valued at approximately $383,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of KeyCorp by 20.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 54,889 shares of the financial services provider's stock valued at $878,000 after acquiring an additional 9,437 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Performance

KEY stock opened at $19.28 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $21.14 billion, a price-to-earnings ratio of -275.47, a P/E/G ratio of 0.67 and a beta of 1.13. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The firm has a 50 day moving average of $17.95 and a two-hundred day moving average of $16.52.

KeyCorp (NYSE:KEY - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts anticipate that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. KeyCorp's payout ratio is currently -1,171.43%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Cowen assumed coverage on shares of KeyCorp in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Truist Financial boosted their price target on shares of KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a report on Monday, July 28th. Baird R W lowered shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Robert W. Baird lowered shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target on the stock. in a report on Wednesday, July 2nd. Finally, DA Davidson boosted their price target on shares of KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.39.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of the sale, the director directly owned 82,719 shares of the company's stock, valued at $1,544,363.73. The trade was a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher M. Gorman sold 112,149 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the sale, the chief executive officer directly owned 619,895 shares of the company's stock, valued at $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,149 shares of company stock valued at $2,738,230 over the last ninety days. Corporate insiders own 0.52% of the company's stock.

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.

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