Stock traders buy large volume of KeyCorp put options (NYSE: KEY)

KeyCorp Inc (NYSE:KEY – Get Rating) saw unusually large options trades on Tuesday. Traders acquired 4,088 put options on the company. This is an increase of approximately 187% from the typical volume of 1,426 put options.

Insider Trading at KeyCorp

In other news, Director Carlton L. Highsmith sold 5,200 shares of KeyCorp in a trade on Wednesday, September 14. The stock was sold at an average price of $17.59, for a total transaction of $91,468.00. Following the completion of the sale, the director now owns 64,139 shares of the company, valued at $1,128,205.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Insiders own 0.54% of the shares of the company.

Institutional investors weigh in on KeyCorp

Several institutional investors have recently bought and sold shares of KEY. Fieldpoint Private Securities LLC increased its holdings in KeyCorp by 677.7% during the second quarter. Fieldpoint Private Securities LLC now owns 1,431 shares of the financial services provider worth $25,000 after buying 1,247 additional shares in the last quarter. DeDora Capital Inc. bought a new position in KeyCorp in Q1 worth $28,000. Evoke Wealth LLC increased its stake in KeyCorp by 131.8% in Q2. Evoke Wealth LLC now owns 1,602 shares of the financial services provider valued at $28,000 after purchasing an additional 911 shares during the period. Brown Brothers Harriman & Co. increased its stake in KeyCorp to 93.0% in the second quarter. Brown Brothers Harriman & Co. now owns 1,631 shares of the financial services provider valued at $28,000 after purchasing an additional 786 shares during the period. Finally, CNB Bank increased its stake in KeyCorp by 3,380.8% in the 2nd quarter. CNB Bank now owns 1,810 shares of the financial services provider valued at $31,000 after purchasing an additional 1,758 shares during the period. Institutional investors hold 83.58% of the company’s shares.

KeyCorp trades down 0.1%

KEY lost $0.02 during Tuesday’s trading, hitting $16.87. The company’s shares had a trading volume of 291,605 shares, compared to its average volume of 11,857,142. KeyCorp has a 12-month low of $15.26 and a 12-month high of 27.17 $. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt ratio of 1.33. The stock’s fifty-day moving average price is $17.64 and its 200-day moving average price is $18.43. The company has a market capitalization of $15.73 billion, a P/E ratio of 7.42, a PEG ratio of 0.41 and a beta of 1.28.

KeyCorp (NYSE:KEY – Get Rating) last released its results on Thursday, July 21. The financial services provider reported earnings per share of $0.54 for the quarter, beating analysts’ consensus estimate of $0.52 by $0.02. KeyCorp had a return on equity of 15.01% and a net margin of 28.53%. The company posted revenue of $1.79 billion for the quarter, compared to analysts’ estimates of $1.76 billion. In the same period a year earlier, the company earned earnings per share of $0.72. KeyCorp’s revenue for the quarter increased 1.1% year on year. Analysts expect KeyCorp to post EPS of 2.2 for the current year.

Analyst upgrades and downgrades

A number of research analysts have recently commented on KEY shares. Morgan Stanley cut its price target on KeyCorp from $23.00 to $22.00 and set an “equal weight” rating on the stock in a Wednesday, Oct. 5 research report. Citigroup lowered its price target on KeyCorp from $22.00 to $19.00 and set a “neutral” rating on the stock in a Tuesday, July 12 research report. Wedbush reiterated a “neutral” rating and published a price target of $18.00 on KeyCorp shares in a research report on Wednesday, September 28. StockNews.com began covering KeyCorp in a research report on Wednesday, October 12. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. cut its price target on KeyCorp from $25.00 to $20.50 and set a “neutral” rating on the stock in a Friday, July 1 research note. Two research analysts gave the stock a sell rating, nine gave the company a hold rating and six gave the company a buy rating. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Hold” and an average target price of $22.93.

About KeyCorp

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KeyCorp operates as a holding company of the KeyBank National Association which 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 investment deposits, products and services; and personal finance and financial wellness, student loan refinance, mortgage and home equity, loans, credit cards, cash flow, business consulting, wealth management, asset management, investing, cash management, management portfolio and fiduciary and related services to individuals and small and medium-sized businesses.

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