KeyCorp $KEY Shares Bought by Caisse Des Depots ET Consignations

Key Points

• Caisse Des Depots ET Consignations raised its stake in KeyCorp by 75.1% in Q4, buying an additional 52,011 shares to hold 121,225 shares valued at about $2.50 million.
• KeyCorp beat estimates for the most recent quarter with EPS of $0.44 versus $0.41 expected and revenue of $1.95 billion (vs. $1.93B), with revenue up 10.2% year‑over‑year and a 10.8% return on equity.
• Analysts have a consensus rating of “Moderate Buy” on KEY with an average price target of $23.13, while several firms raised targets recently even as one (Wells Fargo) maintained an underperform view.

Caisse Des Depots ET Consignations raised its stake in KeyCorp (NYSE:KEY - Free Report) by 75.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,225 shares of the financial services provider's stock after acquiring an additional 52,011 shares during the period. Caisse Des Depots ET Consignations' holdings in KeyCorp were worth $2,502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Maseco LLP acquired a new position in KeyCorp in the fourth quarter valued at approximately $27,000. United Community Bank acquired a new position in KeyCorp in the third quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new position in KeyCorp in the fourth quarter valued at approximately $30,000. True Wealth Design LLC boosted its stake in KeyCorp by 1,263.5% in the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 1,592 shares during the period. Finally, Sachetta LLC boosted its position in shares of KeyCorp by 1,246.1% during the third quarter. Sachetta LLC now owns 1,723 shares of the financial services provider's stock worth $32,000 after buying an additional 1,595 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KEY shares. Piper Sandler boosted their price objective on KeyCorp from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Morgan Stanley reduced their price objective on KeyCorp from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Royal Bank Of Canada boosted their price objective on KeyCorp from $22.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. Wells Fargo & Company set a $18.00 price objective on KeyCorp and gave the stock an "underperform" rating in a research report on Tuesday, January 6th. Finally, DA Davidson boosted their price objective on KeyCorp from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.13.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $21.89 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $20.69 and a 200-day simple moving average of $20.13. The company has a market cap of $23.49 billion, a PE ratio of 13.43, a P/E/G ratio of 0.71 and a beta of 1.06. KeyCorp has a 12-month low of $15.14 and a 12-month high of $23.34.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.03. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, equities research analysts forecast that KeyCorp will post 1.82 EPS for the current year.

Insiders Place Their Bets

In other KeyCorp news, insider Andrew J. Paine III sold 65,961 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the sale, the insider directly owned 166,583 shares in the company, valued at $3,869,723.09. This represents a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by company 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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