Argus Boosts KeyCorp (NYSE:KEY) Price Target to $16.00

KeyCorp (NYSE:KEY) had its target price raised by Argus from $15.00 to $16.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler lifted their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company an overweight rating in a report on Friday, January 26th. Royal Bank of Canada boosted their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock an outperform rating in a research note on Friday. Jefferies Financial Group increased their price objective on KeyCorp from $17.00 to $18.00 and gave the company a buy rating in a research note on Monday, April 8th. Morgan Stanley boosted their target price on KeyCorp from $12.00 to $16.00 and gave the stock an equal weight rating in a research note on Wednesday, February 7th. Finally, Barclays cut their price target on KeyCorp from $17.00 to $16.00 and set an equal weight rating on the stock in a report on Friday, January 19th. One investment 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 MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $15.71.

KeyCorp Stock Up 1.7 %

Shares of NYSE KEY opened at $14.63 on Friday. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The business’s 50 day moving average is $14.69 and its two-hundred day moving average is $13.43. The firm has a market cap of $13.57 billion, a price-to-earnings ratio of 18.52 and a beta of 1.29.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. Research analysts predict that KeyCorp will post 1.17 EPS for the current year.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the sale, the insider now owns 214,630 shares in the company, valued at $3,056,331.20. The transaction 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 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the transaction, the director now directly owns 81,622 shares in the company, valued at $1,161,481.06. The disclosure for this sale can be found here. Insiders sold 21,442 shares of company stock worth $303,914 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently made changes to their positions in KEY. Nisa Investment Advisors LLC raised its stake in KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after acquiring an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of KeyCorp by 35.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after purchasing an additional 86,579 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new stake in shares of KeyCorp during the fourth quarter worth $7,200,000. Fifth Third Bancorp grew its position in KeyCorp by 1.0% in the 4th quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock valued at $3,426,000 after buying an additional 2,344 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in KeyCorp by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock valued at $248,844,000 after buying an additional 3,216,584 shares during the period. 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.