KeyCorp (NYSE:KEY) Stake Raised by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in KeyCorp (NYSE:KEY) by 7.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 135,492 shares of the financial services provider’s stock after purchasing an additional 8,901 shares during the quarter. CIBC Asset Management Inc’s holdings in KeyCorp were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in KEY. OneDigital Investment Advisors LLC grew its stake in shares of KeyCorp by 15.5% in the third quarter. OneDigital Investment Advisors LLC now owns 16,772 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 2,256 shares in the last quarter. Huntington National Bank grew its position in KeyCorp by 1.2% in the 3rd quarter. Huntington National Bank now owns 82,537 shares of the financial services provider’s stock valued at $1,383,000 after buying an additional 958 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of KeyCorp by 279.6% during the 3rd quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after buying an additional 2,790,192 shares in the last quarter. Proactive Wealth Strategies LLC acquired a new stake in shares of KeyCorp in the 3rd quarter worth approximately $288,000. Finally, Entropy Technologies LP bought a new position in shares of KeyCorp in the third quarter valued at approximately $765,000. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KEY shares. Jefferies Financial Group upped their target price on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. 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. DA Davidson boosted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.03.

KeyCorp Price Performance

Shares of KEY opened at $19.00 on Wednesday. The business’s 50-day moving average is $17.36 and its 200-day moving average is $15.88. 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 has a market capitalization of $18.83 billion, a price-to-earnings ratio of 1,900.00, a P/E/G ratio of 1.05 and a beta of 1.24. KeyCorp has a fifty-two week low of $11.64 and a fifty-two week high of $20.00.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Equities research analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

KeyCorp 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.