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

KeyCorp (NYSE:KEY) saw unusually large options trading on Wednesday. Traders bought 13,855 put options on the company. This is an increase of 26% compared to the typical daily volume of 11,026 put options.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KEY. Wells Fargo & Company increased their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Stephens upgraded shares of KeyCorp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 20th. Barclays lowered their price target on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, January 19th. Morgan Stanley boosted their price objective on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, DA Davidson lowered their price objective on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $15.53.

KeyCorp Trading Down 0.8 %

NYSE KEY opened at $14.72 on Friday. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86. The company’s 50-day moving average price is $14.64 and its 200-day moving average price is $13.22. The stock has a market cap of $13.65 billion, a PE ratio of 16.53 and a beta of 1.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.61.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business earned $0.38 EPS. Equities research analysts forecast that KeyCorp will post 1.18 earnings per share for the current year.

Insider Buying and Selling

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the sale, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of KeyCorp by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 111,201,600 shares of the financial services provider’s stock valued at $2,488,691,000 after purchasing an additional 1,278,193 shares during the last quarter. BlackRock Inc. grew its stake in KeyCorp by 10.3% during the 1st quarter. BlackRock Inc. now owns 89,759,881 shares of the financial services provider’s stock valued at $1,123,794,000 after purchasing an additional 8,391,787 shares during the last quarter. State Street Corp increased its holdings in shares of KeyCorp by 2.6% in the second quarter. State Street Corp now owns 47,193,025 shares of the financial services provider’s stock valued at $436,064,000 after purchasing an additional 1,194,413 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of KeyCorp by 3.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 32,342,547 shares of the financial services provider’s stock worth $348,006,000 after purchasing an additional 993,215 shares during the last quarter. Finally, FMR LLC boosted its position in KeyCorp by 14.4% in the third quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock valued at $341,969,000 after buying an additional 3,992,226 shares during the last quarter. 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.