KeyCorp $KEY Position Boosted by Aigen Investment Management LP

Aigen Investment Management LP raised its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 145.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,609 shares of the financial services provider's stock after acquiring an additional 147,297 shares during the quarter. KeyCorp makes up 1.2% of Aigen Investment Management LP's investment portfolio, making the stock its 6th largest holding. Aigen Investment Management LP's holdings in KeyCorp were worth $5,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of KEY. Maseco LLP acquired a new stake in shares of KeyCorp during the 4th quarter valued at about $27,000. GoalVest Advisory LLC acquired a new stake in shares of KeyCorp during the 4th quarter valued at about $30,000. Smithfield Trust Co acquired a new stake in shares of KeyCorp during the 4th quarter valued at about $31,000. Kelleher Financial Advisors acquired a new stake in shares of KeyCorp during the 3rd quarter valued at about $32,000. Finally, True Wealth Design LLC lifted its holdings in shares of KeyCorp by 1,263.5% during the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider's stock valued at $35,000 after buying an additional 1,592 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KEY. Wall Street Zen lowered KeyCorp from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Susquehanna lifted their price target on KeyCorp from $300.00 to $415.00 and gave the company a "positive" rating in a report on Monday, May 18th. Robert W. Baird lifted their price target on KeyCorp from $19.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, April 17th. DA Davidson lifted their price target on KeyCorp from $26.00 to $27.00 and gave the company a "buy" rating in a report on Monday, May 4th. Finally, Piper Sandler lifted their price target on KeyCorp from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $42.78.

KeyCorp Trading Up 1.5%

Shares of KEY stock opened at $22.67 on Friday. The firm has a market capitalization of $24.58 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 0.72 and a beta of 1.03. KeyCorp has a 1 year low of $15.59 and a 1 year high of $23.34. The firm's fifty day simple moving average is $21.54 and its 200 day simple moving average is $20.96. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. As a group, sell-side analysts predict that KeyCorp will post 1.82 EPS for the current year.

KeyCorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, June 2nd. KeyCorp's dividend payout ratio is presently 50.31%.

KeyCorp announced that its board has initiated a share repurchase plan on Wednesday, May 13th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 13% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Angela G. Mago sold 22,826 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the transaction, the insider directly owned 281,564 shares in the company, valued at $6,098,676.24. This represents a 7.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by insiders.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank's offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company's product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

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