Sumitomo Mitsui DS Asset Management Company Ltd Has $2.24 Million Stock Holdings in KeyCorp (NYSE:KEY)

Sumitomo Mitsui DS Asset Management Company Ltd trimmed its stake in shares of KeyCorp (NYSE:KEY) by 4.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 155,361 shares of the financial services provider’s stock after selling 6,968 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in KeyCorp were worth $2,237,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC acquired a new position in KeyCorp during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC increased its position in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in KeyCorp during the 3rd quarter worth approximately $28,000. Baldwin Brothers LLC MA acquired a new position in KeyCorp during the 4th quarter worth approximately $35,000. Finally, Creative Financial Designs Inc. ADV increased its position in KeyCorp by 195.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,763 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Up 1.4 %

Shares of NYSE KEY opened at $14.93 on Thursday. The firm has a market cap of $13.85 billion, a PE ratio of 18.90 and a beta of 1.29. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86. The company’s fifty day simple moving average is $14.74 and its 200 day simple moving average is $13.50. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last issued 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 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 firm’s revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. As a group, sell-side analysts forecast that KeyCorp will post 1.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 19,795 shares in the company, valued at $277,130. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 19,795 shares in the company, valued at $277,130. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction 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 transaction, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock valued at $303,914 over the last ninety days. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KEY. Wedbush decreased their price target on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Barclays decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, January 19th. JPMorgan Chase & Co. upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. DA Davidson decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, January 19th. Finally, Royal Bank of Canada upped their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, April 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.71.

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.