Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in KeyCorp (NYSE:KEY)

Kentucky Retirement Systems Insurance Trust Fund lowered its stake in shares of KeyCorp (NYSE:KEY) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,479 shares of the financial services provider’s stock after selling 2,932 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in KeyCorp were worth $460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Pathway Financial Advisers LLC purchased a new position in KeyCorp in the 1st quarter worth $25,000. Wolff Wiese Magana LLC raised its position in KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC purchased a new position in KeyCorp in the 3rd quarter worth $28,000. Crewe Advisors LLC purchased a new position in KeyCorp in the 1st quarter worth $32,000. Finally, Catalyst Capital Advisors LLC purchased a new position in KeyCorp in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 1.2 %

NYSE:KEY opened at $19.00 on Wednesday. KeyCorp has a one year low of $11.64 and a one year high of $20.00. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50-day simple moving average is $17.36 and its 200 day simple moving average is $15.88. The firm has a market capitalization of $18.83 billion, a P/E ratio of 1,900.00, a PEG ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. As a group, analysts forecast that KeyCorp will post 1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on KEY. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Thursday, November 7th. Wedbush raised their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. DA Davidson raised their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Jefferies Financial Group raised their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.03.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by 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.