Asset Management One Co. Ltd. Cuts Stock Position in KeyCorp (NYSE:KEY)

Asset Management One Co. Ltd. lessened its stake in KeyCorp (NYSE:KEY) by 9.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282,305 shares of the financial services provider’s stock after selling 28,363 shares during the period. Asset Management One Co. Ltd.’s holdings in KeyCorp were worth $4,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new stake in KeyCorp in the first quarter worth about $38,000. Point72 Hong Kong Ltd acquired a new stake in KeyCorp in the first quarter worth about $40,000. Bruce G. Allen Investments LLC acquired a new stake in KeyCorp in the fourth quarter worth about $26,000. Sound Income Strategies LLC boosted its holdings in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares in the last quarter. Finally, Baldwin Brothers LLC MA acquired a new stake in KeyCorp in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 0.8 %

KeyCorp stock opened at $14.72 on Friday. The stock has a market capitalization of $13.65 billion, a PE ratio of 16.53 and a beta of 1.29. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86. The business has a 50 day simple moving average of $14.64 and a 200-day simple moving average of $13.22. 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 (NYSE:KEY) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. During the same period in the previous year, the business earned $0.38 earnings per share. On average, analysts anticipate that KeyCorp will post 1.18 EPS for the current fiscal year.

Insider Activity

In related news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,161,481.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,161,481.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders sold 21,442 shares of company stock worth $303,914 over the last three months. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KEY. JPMorgan Chase & Co. lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. The Goldman Sachs Group lifted their target price on KeyCorp from $13.50 to $15.00 and gave the stock a “buy” rating in a report on Monday, December 18th. Raymond James began coverage on KeyCorp in a report on Monday, January 8th. They set a “market perform” rating for the company. Wedbush decreased their target price on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Finally, Wells Fargo & Company lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.53.

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.