KeyCorp $KEY Shares Purchased by Amundi

Key Points

• Amundi increased its stake in KeyCorp by 8.5%, acquiring an additional 236,040 shares, bringing its total holdings to approximately 3.02 million shares valued at $48.24 million.
• KeyCorp's CEO Christopher M. Gorman sold 112,149 shares at an average price of $18.86, decreasing his ownership by 15.32%, while insiders sold a total of 148,149 shares worth $2.74 million over the last quarter.
• The company reported a quarterly earnings per share of $0.35, beating the consensus estimate, with revenue of $1.84 billion, a 20.6% annual growth, and it announced a dividend payout of $0.205 per share.

Amundi boosted its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,016,799 shares of the financial services provider's stock after buying an additional 236,040 shares during the quarter. Amundi owned approximately 0.28% of KeyCorp worth $48,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KEY. Price T Rowe Associates Inc. MD boosted its position in KeyCorp by 40.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider's stock worth $814,756,000 after purchasing an additional 14,651,281 shares during the period. Vanguard Group Inc. boosted its position in KeyCorp by 7.2% during the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock worth $2,004,273,000 after purchasing an additional 8,412,625 shares during the period. Wellington Management Group LLP boosted its position in KeyCorp by 1,142.4% during the first quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider's stock worth $79,978,000 after purchasing an additional 4,599,197 shares during the period. Invesco Ltd. boosted its position in KeyCorp by 19.5% during the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider's stock worth $329,777,000 after purchasing an additional 3,363,421 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its position in KeyCorp by 12.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider's stock worth $487,882,000 after purchasing an additional 3,327,972 shares during the period. Institutional investors own 79.69% of the company's stock.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent analyst reports. UBS Group raised shares of KeyCorp from a "neutral" rating to a "buy" rating and increased their price target for the stock from $16.00 to $22.00 in a report on Tuesday, July 8th. Truist Financial lifted their price target on shares of KeyCorp from $17.00 to $19.00 and gave the stock a "hold" rating in a research note on Monday, July 28th. Cowen assumed coverage on shares of KeyCorp in a report on Wednesday, May 14th. They issued a "hold" rating on the stock. Robert W. Baird cut 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, Bank of America lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the company a "buy" rating in a report on Monday, June 16th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $19.39.

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the transaction, the director directly owned 82,719 shares in the company, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the transaction, the chief executive officer owned 619,895 shares of the company's stock, valued at approximately $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. 0.52% of the stock is currently owned by company insiders.

KeyCorp Trading Down 0.5%

NYSE:KEY traded down $0.11 during midday trading on Thursday, hitting $19.13. 19,779,128 shares of the company traded hands, compared to its average volume of 18,182,326. The firm's fifty day moving average is $18.45 and its 200-day moving average is $16.64. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The firm has a market capitalization of $20.97 billion, a P/E ratio of -273.21, a P/E/G ratio of 0.67 and a beta of 1.15. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the prior year, the company posted $0.25 EPS. KeyCorp's quarterly revenue was up 20.6% on a year-over-year basis. On average, sell-side analysts predict that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 2nd. KeyCorp's dividend payout ratio (DPR) is presently -1,171.43%.

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.