National Pension Service Purchases New Stake in KeyCorp (NYSE:KEY)

National Pension Service acquired a new position in shares of KeyCorp (NYSE:KEY) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 137,126 shares of the financial services provider’s stock, valued at approximately $2,297,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Advocates Investment Management grew its stake in KeyCorp by 2.3% in the third quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 602 shares in the last quarter. HM Payson & Co. increased its holdings in shares of KeyCorp by 27.0% in the 3rd quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 650 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in KeyCorp by 2.1% during the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 679 shares during the last quarter. Raymond James Trust N.A. boosted its holdings in KeyCorp by 2.5% in the second quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider’s stock worth $429,000 after purchasing an additional 724 shares during the period. Finally, Lake Street Advisors Group LLC increased its stake in KeyCorp by 7.4% during the third quarter. Lake Street Advisors Group LLC now owns 11,697 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 801 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 4.2 %

Shares of KeyCorp stock opened at $19.14 on Friday. The business has a fifty day simple moving average of $16.88 and a 200-day simple moving average of $15.59. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 1,914.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. KeyCorp has a fifty-two week low of $10.73 and a fifty-two week high of $20.00. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KEY. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $17.00 in a report on Monday, October 14th. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Thursday. The Goldman Sachs Group set a $19.00 price target on KeyCorp in a research report on Thursday, October 17th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada increased their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Nine equities 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, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.79.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

About KeyCorp

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.