Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in KeyCorp (NYSE:KEY)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of KeyCorp (NYSE:KEY) by 35.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,655 shares of the financial services provider’s stock after purchasing an additional 86,579 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in KeyCorp were worth $4,747,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cetera Advisor Networks LLC raised its stake in KeyCorp by 37.9% in the first quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock valued at $285,000 after buying an additional 3,504 shares during the last quarter. Sei Investments Co. raised its stake in KeyCorp by 12.9% in the first quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock valued at $26,543,000 after buying an additional 135,193 shares during the last quarter. Aviva PLC raised its stake in KeyCorp by 177.0% in the first quarter. Aviva PLC now owns 525,009 shares of the financial services provider’s stock valued at $11,750,000 after buying an additional 335,457 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in KeyCorp in the first quarter valued at about $38,000. Finally, Allianz Asset Management GmbH raised its stake in KeyCorp by 10.6% in the first quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock valued at $4,757,000 after buying an additional 20,384 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on KEY. Morgan Stanley increased their price target on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Piper Sandler increased their price objective on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, January 26th. The Goldman Sachs Group increased their price objective on KeyCorp from $13.50 to $15.00 and gave the company a “buy” rating in a report on Monday, December 18th. JPMorgan Chase & Co. increased their price objective on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Jefferies Financial Group increased their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $15.53.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’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 directly owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’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 transaction, the insider now owns 98,120 shares in the company, valued at $1,376,623.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Douglas M. Schosser sold 3,326 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,442 shares of company stock valued at $303,914. Company insiders own 0.67% of the company’s stock.

KeyCorp Stock Down 1.3 %

Shares of KEY opened at $14.43 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86. The stock’s 50 day moving average is $14.65 and its two-hundred day moving average is $13.31. The firm has a market cap of $13.38 billion, a P/E ratio of 16.21 and a beta of 1.29.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company earned $0.38 earnings per share. Analysts predict that KeyCorp will post 1.17 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.