DRW Securities LLC Invests $2.28 Million in KeyCorp $KEY

Key Points

• DRW Securities LLC has made a new investment in KeyCorp, acquiring 142,549 shares valued at approximately $2.279 million during the first quarter.
• KeyCorp reported earnings of $0.35 per share for the last quarter, exceeding the consensus estimate of $0.34, with a year-over-year revenue increase of 20.6%.
• Analyst ratings for KeyCorp reflect a mixed sentiment, with most analysts giving it a "Hold" rating and a consensus target price of $19.39.

DRW Securities LLC bought a new position in shares of KeyCorp (NYSE:KEY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 142,549 shares of the financial services provider's stock, valued at approximately $2,279,000.

A number of other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its position in shares of KeyCorp by 2.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider's stock worth $423,000 after purchasing an additional 631 shares during the period. AlphaCore Capital LLC grew its holdings in KeyCorp by 5.2% during the first quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider's stock worth $212,000 after buying an additional 651 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in KeyCorp by 34.0% during the first quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider's stock worth $42,000 after buying an additional 671 shares in the last quarter. Centaurus Financial Inc. grew its holdings in KeyCorp by 11.2% during the fourth quarter. Centaurus Financial Inc. now owns 7,218 shares of the financial services provider's stock worth $124,000 after buying an additional 728 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in KeyCorp by 44.1% during the first quarter. Capital Advisors Ltd. LLC now owns 2,504 shares of the financial services provider's stock worth $40,000 after buying an additional 766 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the sale, the director owned 82,719 shares of the company's stock, valued at $1,544,363.73. This trade represents a 17.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Amy G. Brady sold 19,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.09, for a total value of $305,710.00. Following the completion of the sale, the insider directly owned 82,523 shares in the company, valued at approximately $1,327,795.07. The trade was a 18.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,149 shares of company stock worth $2,738,230 in the last ninety days. 0.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group started coverage on KeyCorp in a report on Wednesday, May 21st. They set a "hold" rating and a $18.00 price target for the company. TD Cowen started coverage on KeyCorp in a research report on Thursday, May 15th. They issued a "hold" rating and a $18.00 price objective on the stock. Baird R W cut KeyCorp from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Cowen started coverage on KeyCorp in a research report on Wednesday, May 14th. They issued a "hold" rating on the stock. Finally, Citigroup reissued a "neutral" rating and issued a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.39.

KeyCorp Stock Performance

Shares of NYSE KEY traded up $0.25 during mid-day trading on Thursday, hitting $19.20. The company had a trading volume of 22,627,632 shares, compared to its average volume of 17,717,746. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of -274.21, a P/E/G ratio of 0.68 and a beta of 1.15. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The stock's 50-day moving average price is $18.30 and its 200-day moving average price is $16.59.

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

KeyCorp Announces Dividend

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

About KeyCorp

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.