Entropy Technologies LP Buys Shares of 45,660 KeyCorp (NYSE:KEY)

Entropy Technologies LP bought a new stake in shares of KeyCorp (NYSE:KEY) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 45,660 shares of the financial services provider’s stock, valued at approximately $765,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KEY. Apollon Wealth Management LLC lifted its stake in shares of KeyCorp by 25.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 24,645 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 5,077 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of KeyCorp by 62.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,526 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 975 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of KeyCorp by 13.6% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider’s stock worth $5,101,000 after purchasing an additional 36,444 shares in the last quarter. Tyler Stone Wealth Management raised its holdings in shares of KeyCorp by 94.7% in the 3rd quarter. Tyler Stone Wealth Management now owns 165,749 shares of the financial services provider’s stock worth $2,776,000 after purchasing an additional 80,607 shares in the last quarter. Finally, Del Sette Capital Management LLC raised its holdings in shares of KeyCorp by 3.2% in the 3rd quarter. Del Sette Capital Management LLC now owns 118,348 shares of the financial services provider’s stock worth $1,982,000 after purchasing an additional 3,662 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $154,260.00. Following the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KEY shares. Morgan Stanley boosted their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $17.00 in a report on Monday, October 14th. The Goldman Sachs Group set a $19.00 price target on shares of KeyCorp in a research report on Thursday, October 17th. Evercore ISI upped their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Wedbush increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.79.

KeyCorp Stock Performance

NYSE:KEY opened at $19.13 on Friday. KeyCorp has a 1 year low of $11.64 and a 1 year high of $20.00. The firm’s fifty day simple moving average is $17.11 and its 200 day simple moving average is $15.74. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $18.96 billion, a PE ratio of 1,913.00, a PEG ratio of 1.06 and a beta of 1.24.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. On average, sell-side analysts anticipate that KeyCorp will post 1.08 EPS for the current year.

KeyCorp Company 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.