KeyCorp Sees Unusually High Options Volume (NYSE:KEY)

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

KeyCorp Stock Up 2.4 %

Shares of KEY traded up $0.42 during trading hours on Friday, hitting $17.89. The company had a trading volume of 2,509,239 shares, compared to its average volume of 13,289,919. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.88 and a current ratio of 0.85. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of -59.61, a P/E/G ratio of 0.65 and a beta of 1.27. KeyCorp has a 52-week low of $13.10 and a 52-week high of $20.04. The firm has a fifty day moving average price of $18.06 and a 200-day moving average price of $17.07.

KeyCorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Tuesday, March 4th. KeyCorp’s payout ratio is -273.32%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KEY. Barclays boosted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. The Goldman Sachs Group increased their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Evercore ISI raised their target price on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.58.

Insiders Place Their Bets

In related news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This trade represents a 19.20 % 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, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $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. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors have recently added to or reduced their stakes in KEY. Charles Schwab Investment Management Inc. increased its position in shares of KeyCorp by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock worth $529,409,000 after acquiring an additional 993,942 shares during the period. Earnest Partners LLC lifted its position in shares of KeyCorp by 23.2% during the second 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 boosted its holdings in shares of KeyCorp by 3.2% in 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 in the last quarter. Thrivent Financial for Lutherans lifted its position in KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after acquiring an additional 3,042,060 shares during the last quarter. Finally, Azora Capital LP acquired a new stake in shares of KeyCorp in the 3rd quarter worth $92,413,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.