WINTON GROUP Ltd Acquires 401,031 Shares of KeyCorp $KEY

Key Points

• WINTON GROUP Ltd boosted its stake in KeyCorp by 166.9% in Q3, adding 401,031 shares to hold 641,300 shares worth about $11.99 million (roughly 0.06% of the company).
• KeyCorp beat quarterly EPS estimates ($0.41 vs. $0.39) with revenue up 131.8% year‑over‑year to $5.45 billion, and the company declared a $0.205 quarterly dividend (annualized $0.82) representing a 4.1% yield.
• Institutional investors own 79.69% of KeyCorp, while insiders have sold 161,506 shares (~$3.6 million) in the last three months; analysts' consensus is a "Moderate Buy" with a $23.03 price target.

WINTON GROUP Ltd raised its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 166.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 641,300 shares of the financial services provider's stock after acquiring an additional 401,031 shares during the period. WINTON GROUP Ltd owned approximately 0.06% of KeyCorp worth $11,986,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Marshall Wace LLP boosted its holdings in KeyCorp by 2,258.4% during the second quarter. Marshall Wace LLP now owns 2,572,980 shares of the financial services provider's stock worth $44,821,000 after buying an additional 2,463,880 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of KeyCorp by 2.7% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,013,977 shares of the financial services provider's stock valued at $37,641,000 after acquiring an additional 53,682 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of KeyCorp in the 3rd quarter valued at about $2,253,000. Prudential Financial Inc. raised its position in shares of KeyCorp by 9.9% in the 2nd quarter. Prudential Financial Inc. now owns 575,108 shares of the financial services provider's stock valued at $10,018,000 after acquiring an additional 51,705 shares during the period. Finally, HoldCo Asset Management LP bought a new position in KeyCorp during the 2nd quarter worth approximately $86,995,000. Institutional investors and hedge funds own 79.69% of the company's stock.

KeyCorp Stock Performance

Shares of KEY opened at $19.88 on Monday. The firm has a market cap of $21.66 billion, a P/E ratio of 13.08, a PEG ratio of 0.59 and a beta of 1.08. KeyCorp has a twelve month low of $12.73 and a twelve month high of $23.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83. The firm's 50 day moving average price is $21.44 and its two-hundred day moving average price is $19.66.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The firm's quarterly revenue was up 131.8% on a year-over-year basis. During the same period last year, the business posted $0.30 earnings per share. On average, analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Tuesday, March 3rd will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $0.82 annualized dividend and a dividend yield of 4.1%. KeyCorp's dividend payout ratio (DPR) is currently 53.95%.

Insider Activity

In other news, Director Trina M. Evans sold 32,695 shares of the business's stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total value of $710,789.30. Following the sale, the director directly owned 58,719 shares in the company, valued at $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew J. Paine III sold 65,961 shares of the stock in a transaction dated 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 transaction, the insider owned 166,583 shares of the company's stock, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 161,506 shares of company stock worth $3,597,481 over the last three months. Corporate insiders own 0.52% of the company's stock.

Wall Street Analyst Weigh In

KEY has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of KeyCorp from $22.00 to $24.50 and gave the stock a "neutral" rating in a report on Monday, February 9th. Weiss Ratings upgraded shares of KeyCorp from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, February 25th. Wells Fargo & Company set a $18.00 price objective on shares of KeyCorp and gave the company an "underperform" rating in a research report on Tuesday, January 6th. Stephens raised their price objective on KeyCorp from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, December 18th. Finally, Argus lifted their target price on KeyCorp from $21.00 to $25.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Twelve equities 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 company's stock. According to data from MarketBeat.com, KeyCorp has an average rating of "Moderate Buy" and a consensus price target of $23.03.

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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