Essex Financial Services Inc. Lowers Stock Position in KeyCorp (NYSE:KEY)

Essex Financial Services Inc. trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,539 shares of the financial services provider’s stock after selling 2,797 shares during the quarter. Essex Financial Services Inc.’s holdings in KeyCorp were worth $325,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Asset Management One Co. Ltd. lifted its stake in shares of KeyCorp by 8.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 310,668 shares of the financial services provider’s stock worth $3,343,000 after purchasing an additional 23,218 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of KeyCorp by 21.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 608,103 shares of the financial services provider’s stock valued at $6,543,000 after buying an additional 108,549 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of KeyCorp in the 3rd quarter worth approximately $109,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of KeyCorp by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 107,111 shares of the financial services provider’s stock worth $1,153,000 after acquiring an additional 1,552 shares in the last quarter. Finally, Xponance Inc. lifted its position in KeyCorp by 3.0% during the third quarter. Xponance Inc. now owns 132,383 shares of the financial services provider’s stock valued at $1,424,000 after acquiring an additional 3,858 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $14.93 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 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock has a market cap of $13.84 billion, a PE ratio of 18.89 and a beta of 1.28. The business has a 50-day simple moving average of $14.80 and a 200-day simple moving average of $13.65.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, equities analysts expect that KeyCorp will post 1.15 EPS for the current year.

Analysts Set New Price Targets

KEY has been the topic of several analyst reports. Barclays cut their price target on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, January 19th. Wells Fargo & Company increased their price target on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Raymond James assumed coverage on KeyCorp in a research note on Monday, January 8th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. increased their price objective 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. Finally, Evercore ISI boosted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.71.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 3,405 shares of the firm’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 owns 214,630 shares in the company, valued at $3,056,331.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other KeyCorp 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 transaction of $48,487.20. Following the transaction, the insider now owns 214,630 shares in the company, valued at $3,056,331.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 a total of 21,442 shares of company stock worth $303,914 in the last three months. Company insiders own 0.61% of the company’s stock.

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.