Federated Hermes Inc. Lowers Stock Position in KeyCorp (NYSE:KEY)

Federated Hermes Inc. lessened its holdings in shares of KeyCorp (NYSE:KEY) by 33.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,255 shares of the financial services provider’s stock after selling 31,282 shares during the quarter. Federated Hermes Inc.’s holdings in KeyCorp were worth $896,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in shares of KeyCorp by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after purchasing an additional 21,395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after acquiring an additional 86,579 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in KeyCorp in the fourth quarter valued at approximately $7,200,000. Fifth Third Bancorp raised its holdings in KeyCorp by 1.0% in the fourth quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock valued at $3,426,000 after acquiring an additional 2,344 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in KeyCorp by 44.1% in the fourth quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock valued at $23,186,000 after acquiring an additional 492,584 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Raymond James assumed coverage on shares of KeyCorp in a report on Monday, January 8th. They issued a “market perform” rating on the stock. Argus raised their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Royal Bank of Canada raised their target price on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $15.71.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the transaction, the insider now directly owns 214,630 shares in the company, valued at approximately $3,056,331.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the sale, the insider now directly owns 214,630 shares in the company, valued at approximately $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares in the company, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock worth $303,914 in the last three months. Insiders own 0.67% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY opened at $14.71 on Thursday. The company’s 50 day simple moving average is $14.79 and its 200-day simple moving average is $13.65. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market cap of $13.64 billion, a PE ratio of 18.62 and a beta of 1.29.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business’s quarterly revenue was down 10.6% on a year-over-year basis. As a group, equities analysts predict that KeyCorp will post 1.15 EPS for the current 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.