KeyCorp Target of Unusually High Options Trading (NYSE:KEY)

KeyCorp (NYSE:KEY) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 13,282 call options on the stock. This represents an increase of 84% compared to the typical daily volume of 7,221 call options.

KeyCorp Trading Down 0.3 %

Shares of NYSE:KEY opened at $17.14 on Thursday. The stock’s fifty day moving average price is $18.26 and its 200-day moving average price is $16.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $16.99 billion, a P/E ratio of 1,714.00, a PEG ratio of 1.00 and a beta of 1.27. KeyCorp has a 1 year low of $12.94 and a 1 year high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Sell-side analysts expect that KeyCorp will post 1.09 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, December 3rd were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Tuesday, December 3rd. KeyCorp’s dividend payout ratio (DPR) is currently 8,200.00%.

Analysts Set New Price Targets

KEY has been the subject of several recent analyst reports. Truist Financial initiated coverage on shares of KeyCorp in a research report on Tuesday. They set a “hold” rating and a $19.00 price objective for the company. Evercore ISI lifted their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.44.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KEY. Everence Capital Management Inc. increased its holdings in KeyCorp by 25.3% during the 4th quarter. Everence Capital Management Inc. now owns 41,320 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 8,330 shares during the period. GAMMA Investing LLC increased its stake in shares of KeyCorp by 23.0% during the fourth quarter. GAMMA Investing LLC now owns 30,413 shares of the financial services provider’s stock valued at $521,000 after buying an additional 5,687 shares during the period. Versant Capital Management Inc raised its holdings in shares of KeyCorp by 44.6% in the fourth quarter. Versant Capital Management Inc now owns 3,587 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 1,107 shares in the last quarter. Franklin Resources Inc. grew its holdings in KeyCorp by 340.0% during the 3rd quarter. Franklin Resources Inc. now owns 413,011 shares of the financial services provider’s stock worth $7,186,000 after acquiring an additional 319,155 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in KeyCorp during the 3rd quarter worth about $395,000. Institutional investors own 79.69% of the company’s stock.

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.