KeyCorp (NYSE:KEY) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its position in KeyCorp (NYSE:KEY) by 34.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,640 shares of the financial services provider’s stock after selling 12,080 shares during the period. Park Avenue Securities LLC’s holdings in KeyCorp were worth $379,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ceredex Value Advisors LLC lifted its stake in KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after buying an additional 3,517,755 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in KeyCorp in the 1st quarter valued at approximately $42,857,000. National Bank of Canada FI lifted its stake in KeyCorp by 1,051.3% in the 1st quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock valued at $38,752,000 after buying an additional 2,346,565 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of KeyCorp during the 2nd quarter worth $33,273,000. Finally, Earnest Partners LLC lifted its stake in shares of KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after purchasing an additional 2,339,454 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Up 2.3 %

Shares of NYSE KEY opened at $17.22 on Friday. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.47. The company has a market cap of $16.24 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.94 and a beta of 1.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average price of $16.30 and a 200 day moving average price of $15.29.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.27 earnings per share. Research analysts anticipate that KeyCorp will post 1.08 EPS for the current fiscal year.

Insider Activity

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares in the company, valued at $759,665.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup increased their price target on KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. DA Davidson increased their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 target price on shares of KeyCorp in a research report on Tuesday, August 13th. JPMorgan Chase & Co. cut their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, Evercore ISI increased their target price on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.22.

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.