KeyCorp Sees Unusually Large Options Volume (KEY)

KeyCorp (NYSE:KEY) was the recipient of unusually large options trading activity on Friday. Traders acquired 4,937 put options on the stock. This is an increase of 1,974% compared to the average volume of 238 put options.

Shares of KeyCorp (NYSE:KEY) opened at $20.33 on Monday. KeyCorp has a 12-month low of $16.28 and a 12-month high of $20.59. The firm has a market cap of $21,862.88, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.66 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.90.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. KeyCorp had a net margin of 18.69% and a return on equity of 10.35%. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. equities research analysts anticipate that KeyCorp will post 1.37 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th were given a dividend of $0.105 per share. The ex-dividend date was Monday, November 27th. This is a boost from KeyCorp’s previous quarterly dividend of $0.10. This represents a $0.42 dividend on an annualized basis and a dividend yield of 2.07%. KeyCorp’s dividend payout ratio (DPR) is currently 36.84%.

In other news, Director Elizabeth R. Gile bought 1,374 shares of KeyCorp stock in a transaction on Wednesday, November 22nd. The shares were bought at an average cost of $18.23 per share, with a total value of $25,048.02. Following the completion of the purchase, the director now directly owns 24,989 shares of the company’s stock, valued at $455,549.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Paul N. Harris sold 2,758 shares of KeyCorp stock in a transaction dated Wednesday, October 25th. The stock was sold at an average price of $18.54, for a total transaction of $51,133.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,212 shares of company stock worth $1,060,508. Insiders own 0.65% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in KEY. Boston Partners acquired a new stake in shares of KeyCorp during the third quarter valued at about $356,111,000. Janus Henderson Group PLC grew its holdings in shares of KeyCorp by 6,189.4% in the second quarter. Janus Henderson Group PLC now owns 9,107,724 shares of the financial services provider’s stock valued at $170,679,000 after purchasing an additional 8,962,913 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of KeyCorp by 3.9% in the second quarter. Vanguard Group Inc. now owns 111,418,810 shares of the financial services provider’s stock valued at $2,087,987,000 after purchasing an additional 4,230,390 shares in the last quarter. Samlyn Capital LLC acquired a new position in shares of KeyCorp in the second quarter valued at approximately $57,111,000. Finally, BlackRock Inc. grew its holdings in shares of KeyCorp by 2.7% in the second quarter. BlackRock Inc. now owns 86,694,342 shares of the financial services provider’s stock valued at $1,624,654,000 after purchasing an additional 2,280,450 shares in the last quarter. Institutional investors and hedge funds own 80.91% of the company’s stock.

KEY has been the topic of a number of analyst reports. Zacks Investment Research raised shares of KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $23.00 target price on shares of KeyCorp in a research note on Thursday, December 14th. ValuEngine raised shares of KeyCorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Citigroup lifted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, October 9th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $18.00 target price on shares of KeyCorp in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $21.56.

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About KeyCorp

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

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