Stock Traders Buy Large Volume of KeyCorp Call Options (NYSE:KEY)

KeyCorp (NYSE:KEY) was the recipient of unusually large options trading on Friday. Traders acquired 12,210 call options on the stock. This represents an increase of approximately 55% compared to the average volume of 7,871 call options.

KeyCorp Stock Up 1.2 %

KEY stock opened at $17.69 on Friday. The stock’s fifty day simple moving average is $18.03 and its two-hundred day simple moving average is $17.09. The company has a current ratio of 0.85, a quick ratio of 0.88 and a debt-to-equity ratio of 0.77. KeyCorp has a 1-year low of $13.10 and a 1-year high of $20.04. The stock has a market cap of $17.53 billion, a P/E ratio of -58.96, a P/E/G ratio of 0.65 and a beta of 1.27.

KeyCorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.205 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.64%. KeyCorp’s dividend payout ratio is presently -273.32%.

Analysts Set New Price Targets

A number of analysts have recently commented on KEY shares. Keefe, Bruyette & Woods cut their price target on KeyCorp from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company lifted their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. UBS Group lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Piper Sandler lifted their price objective on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Truist Financial initiated coverage on KeyCorp in a research note on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.58.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now directly 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 filing with the SEC, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 37,864 shares in the company, valued at $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. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of KeyCorp by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after buying an additional 993,942 shares during the last quarter. Earnest Partners LLC lifted its position in shares of KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after buying an additional 2,339,454 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of KeyCorp by 3.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock valued at $119,170,000 after buying an additional 222,187 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of KeyCorp by 108.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after purchasing an additional 3,042,060 shares during the period. Finally, Azora Capital LP bought a new stake in shares of KeyCorp during the 3rd quarter valued at $92,413,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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.