StoneX Group Inc. Purchases 13,560 Shares of KeyCorp (NYSE:KEY)

StoneX Group Inc. raised its position in KeyCorp (NYSE:KEY) by 14.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,466 shares of the financial services provider’s stock after buying an additional 13,560 shares during the quarter. StoneX Group Inc.’s holdings in KeyCorp were worth $1,800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new position in KeyCorp in the first quarter valued at approximately $25,000. Wolff Wiese Magana LLC increased its stake in shares of KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares during the last quarter. American Capital Advisory LLC acquired a new position in shares of KeyCorp during the 3rd quarter worth $28,000. Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp during the 3rd quarter worth $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in KeyCorp in the third quarter valued at about $38,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % 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.

KeyCorp Stock Performance

Shares of KEY stock opened at $19.60 on Friday. The stock has a market capitalization of $19.43 billion, a PE ratio of 1,960.00, a PEG ratio of 1.08 and a beta of 1.24. The business’s 50 day simple moving average is $17.55 and its 200 day simple moving average is $15.96. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a one year low of $11.64 and a one year high of $20.00.

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

KeyCorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, December 3rd will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.82 dividend on an annualized basis and a yield of 4.18%. KeyCorp’s payout ratio is currently 8,200.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KEY. Wells Fargo & Company boosted their target price on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. DA Davidson boosted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Morgan Stanley increased their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $17.00 in a research report on Monday, October 14th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.03.

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.