KeyCorp (NYSE:KEY) Price Target Raised to $16.00

KeyCorp (NYSE:KEY) had its target price lifted by Royal Bank of Canada from $15.00 to $16.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research analysts have also commented on KEY. Wedbush decreased their price target on shares of KeyCorp from $16.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, January 19th. Morgan Stanley upped their target price on KeyCorp from $12.00 to $16.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Keefe, Bruyette & Woods lifted their price target on KeyCorp from $16.00 to $18.00 and gave the stock an outperform rating in a report on Friday, April 5th. DA Davidson decreased their price objective on KeyCorp from $17.00 to $16.00 and set a buy rating on the stock in a report on Friday, January 19th. Finally, Raymond James began coverage on KeyCorp in a report on Monday, January 8th. They set a market perform rating for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $15.71.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $14.63 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $13.57 billion, a P/E ratio of 18.52 and a beta of 1.29. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86. The stock has a 50 day moving average of $14.69 and a 200-day moving average of $13.43.

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

Insiders Place Their Bets

In other news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction 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 approximately $1,376,623.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the sale, the chief accounting officer now directly owns 19,795 shares in the company, valued at $277,130. 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. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cetera Advisor Networks LLC increased its holdings in KeyCorp by 37.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 3,504 shares in the last quarter. Sei Investments Co. grew its holdings in shares of KeyCorp by 12.9% during the first quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock worth $26,543,000 after purchasing an additional 135,193 shares during the last quarter. Aviva PLC increased its stake in shares of 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 period. Canada Pension Plan Investment Board bought a new position in KeyCorp in the 1st quarter valued at approximately $38,000. Finally, Allianz Asset Management GmbH boosted its position in KeyCorp by 10.6% during the 1st quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock worth $4,757,000 after buying an additional 20,384 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Company 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.