GSA Capital Partners LLP Reduces Stock Holdings in KeyCorp (NYSE:KEY)

GSA Capital Partners LLP lowered its position in KeyCorp (NYSE:KEY) by 41.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,216 shares of the financial services provider’s stock after selling 19,287 shares during the quarter. GSA Capital Partners LLP’s holdings in KeyCorp were worth $456,000 at the end of the most recent quarter.

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

Insider Activity

In other news, 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 value of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s 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. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on KEY shares. DA Davidson lifted their price objective on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Jefferies Financial Group lifted their price objective 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 lifted their price objective on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group set a $19.00 price objective on KeyCorp in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.03.

KeyCorp Price Performance

KEY stock opened at $19.02 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00. The stock’s 50 day moving average is $17.42 and its two-hundred day moving average is $15.90. The company has a market capitalization of $18.85 billion, a PE ratio of 1,902.00, a P/E/G ratio of 1.06 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Analysts predict that KeyCorp will post 1.09 earnings per share 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.