Jefferies Financial Group Raises KeyCorp (NYSE:KEY) Price Target to $18.00

KeyCorp (NYSE:KEY) had its target price boosted by Jefferies Financial Group from $17.00 to $18.00 in a research report released on Monday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of KeyCorp from $16.00 to $17.00 and gave the stock an overweight rating in a research report on Friday, January 26th. Wedbush reduced their price target on shares of KeyCorp from $16.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, January 19th. DA Davidson reduced their price target on shares of KeyCorp from $17.00 to $16.00 and set a buy rating on the stock in a research report on Friday, January 19th. Morgan Stanley boosted their price target on shares of KeyCorp from $12.00 to $16.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, Stephens upgraded shares of KeyCorp from an equal weight rating to an overweight rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $15.53.

KeyCorp Trading Down 4.4 %

KeyCorp stock opened at $14.84 on Monday. The stock has a market cap of $13.76 billion, a P/E ratio of 16.67 and a beta of 1.29. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.86 and a quick ratio of 0.86. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86. The firm’s 50 day moving average price is $14.63 and its 200-day moving average price is $13.21.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same quarter last year, the business posted $0.38 earnings per share. On average, equities analysts predict that KeyCorp will post 1.18 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the sale, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the sale, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,442 shares of company stock valued at $303,914. 0.67% of the stock is currently owned by company insiders.

Institutional Trading of KeyCorp

A number of hedge funds have recently added to or reduced their stakes in KEY. Ontario Teachers Pension Plan Board purchased a new stake in KeyCorp in the third quarter worth about $274,773,000. Wells Fargo & Company MN lifted its position in shares of KeyCorp by 324.7% during the second quarter. Wells Fargo & Company MN now owns 14,316,581 shares of the financial services provider’s stock valued at $132,285,000 after buying an additional 10,945,274 shares during the last quarter. Norges Bank purchased a new stake in shares of KeyCorp during the fourth quarter valued at about $128,203,000. BlackRock Inc. lifted its position in shares of KeyCorp by 10.3% during the first quarter. BlackRock Inc. now owns 89,759,881 shares of the financial services provider’s stock valued at $1,123,794,000 after buying an additional 8,391,787 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of KeyCorp by 140.1% during the second quarter. Goldman Sachs Group Inc. now owns 9,698,780 shares of the financial services provider’s stock valued at $89,617,000 after buying an additional 5,659,750 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.