First Trust Direct Indexing L.P. Purchases 15,591 Shares of KeyCorp (NYSE:KEY)

First Trust Direct Indexing L.P. increased its position in KeyCorp (NYSE:KEY) by 56.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,450 shares of the financial services provider’s stock after purchasing an additional 15,591 shares during the period. First Trust Direct Indexing L.P.’s holdings in KeyCorp were worth $626,000 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. Victory Capital Management Inc. increased its stake in shares of KeyCorp by 21.7% in the 4th quarter. Victory Capital Management Inc. now owns 690,359 shares of the financial services provider’s stock worth $9,941,000 after acquiring an additional 123,253 shares in the last quarter. Brighton Jones LLC boosted its stake in KeyCorp by 23.5% during the fourth quarter. Brighton Jones LLC now owns 15,779 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 3,005 shares in the last quarter. Penobscot Investment Management Company Inc. grew its holdings in KeyCorp by 21.4% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 45,308 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 8,000 shares during the period. Cozad Asset Management Inc. bought a new position in shares of KeyCorp during the fourth quarter valued at approximately $2,007,000. Finally, Van ECK Associates Corp lifted its holdings in shares of KeyCorp by 31.4% during the fourth quarter. Van ECK Associates Corp now owns 8,463 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 2,021 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Activity

In related news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s 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 directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Trina M. Evans sold 12,335 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the company’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 completion of the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last 90 days. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on KEY shares. Morgan Stanley upped their price target on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Raymond James assumed coverage on KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Jefferies Financial Group upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Argus raised their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Trading Up 0.4 %

KeyCorp stock opened at $14.93 on Friday. The business has a 50-day simple moving average of $14.82 and a two-hundred day simple moving average of $13.68. 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 company has a market cap of $13.85 billion, a P/E ratio of 18.90 and a beta of 1.28.

KeyCorp (NYSE:KEY) last announced 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). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. 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.