KeyCorp $KEY Shares Purchased by Danske Bank A S

Key Points

• Danske Bank A/S raised its stake in KeyCorp by 35.7% in Q4 to 518,031 shares, buying an additional 136,312 shares and holding about $10.69 million at period end.
• KeyCorp reported quarterly results beating estimates with $0.44 EPS versus $0.41 expected and revenue of $1.95 billion, up 10.2% year-over-year.
• Several analysts raised price targets and the stock has a consensus rating of "Moderate Buy" with an average target of $23.18, while institutional investors own roughly 79.69% of the company.

Danske Bank A S raised its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 35.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 518,031 shares of the financial services provider's stock after purchasing an additional 136,312 shares during the period. Danske Bank A S's holdings in KeyCorp were worth $10,692,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in KeyCorp by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 124,811,543 shares of the financial services provider's stock worth $2,576,110,000 after purchasing an additional 1,192,323 shares during the last quarter. Wellington Management Group LLP increased its stake in KeyCorp by 90.2% during the third quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider's stock worth $679,768,000 after acquiring an additional 17,245,128 shares during the last quarter. Capital World Investors increased its stake in KeyCorp by 169.2% during the third quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider's stock worth $388,546,000 after acquiring an additional 13,067,326 shares during the last quarter. Franklin Resources Inc. increased its stake in KeyCorp by 2.6% during the third quarter. Franklin Resources Inc. now owns 15,799,619 shares of the financial services provider's stock worth $295,295,000 after acquiring an additional 397,523 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of KeyCorp by 12.6% in the second quarter. Bank of America Corp DE now owns 7,843,378 shares of the financial services provider's stock worth $136,632,000 after acquiring an additional 879,678 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company's stock.

Wall Street Analysts Forecast Growth

KEY has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Jefferies Financial Group increased their target price on KeyCorp from $21.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, April 17th. Piper Sandler raised their price target on shares of KeyCorp from $23.00 to $24.00 and gave the company an "overweight" rating in a report on Friday, April 17th. Royal Bank Of Canada raised their price target on shares of KeyCorp from $22.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Finally, Barclays raised their price objective on KeyCorp from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, January 5th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.18.

KeyCorp Trading Down 1.0%

KeyCorp stock opened at $21.66 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average price of $20.69 and a two-hundred day moving average price of $20.16. The firm has a market capitalization of $23.23 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.70 and a beta of 1.06. KeyCorp has a 52-week low of $15.16 and a 52-week high of $23.34.

KeyCorp (NYSE:KEY - Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. Sell-side analysts expect that KeyCorp will post 1.82 earnings per share for the current year.

Insider Transactions at KeyCorp

In other news, insider Andrew J. Paine III sold 65,961 shares of the firm's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the transaction, the insider owned 166,583 shares in the company, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

KeyCorp 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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