On April 25, 2023 at 13:20:05 ET an unusually large $268.60K block of Put contracts in Keycorp (KEY) was bought, with a strike price of $11.00 / share, expiring in 234 day(s) (on December 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 3.79 sigmas above the mean, placing it in the 99.99th percentile of all recent large trades made in KEY options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 1539 funds or institutions reporting positions in Keycorp. This is a decrease of 9 owner(s) or 0.58% in the last quarter. Average portfolio weight of all funds dedicated to KEY is 0.22%, an increase of 9.00%. Total shares owned by institutions decreased in the last three months by 1.15% to 908,029K shares. The put/call ratio of KEY is 0.82, indicating a bullish outlook.
Analyst Price Forecast Suggests 47.80% Upside
As of April 24, 2023, the average one-year price target for Keycorp is $16.45. The forecasts range from a low of $12.12 to a high of $39.90. The average price target represents an increase of 47.80% from its latest reported closing price of $11.13.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Keycorp is $7,951MM, an increase of 18.60%. The projected annual non-GAAP EPS is $2.32.
What are Other Shareholders Doing?
Advisor Partners Ii holds 43K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 37K shares, representing an increase of 13.92%. The firm increased its portfolio allocation in KEY by 3.68% over the last quarter.
ADVANCED SERIES TRUST – AST MFS Growth Allocation Portfolio holds 24K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 29K shares, representing a decrease of 23.75%. The firm decreased its portfolio allocation in KEY by 3.20% over the last quarter.
USBLX – Growth and Tax Strategy Fund holds 12K shares representing 0.00% ownership of the company. No change in the last quarter.
Empirical Finance holds 26K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 25K shares, representing an increase of 4.58%. The firm decreased its portfolio allocation in KEY by 31.87% over the last quarter.
Parallel Advisors holds 7K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 9K shares, representing a decrease of 23.94%. The firm decreased its portfolio allocation in KEY by 99.92% over the last quarter.
Keycorp Background Information
(This description is provided by the company.)
KeyCorp’s roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $170.3 billion at December 31, 2020. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,000 branches and approximately 1,400 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name.
See all Keycorp regulatory filings.
This article originally appeared on Fintel
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