KeyCorp (NYSE:KEY) Stock Position Raised by Brighton Jones LLC

Brighton Jones LLC raised its position in shares of KeyCorp (NYSE:KEY) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,779 shares of the financial services provider’s stock after purchasing an additional 3,005 shares during the period. Brighton Jones LLC’s holdings in KeyCorp were worth $227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Penobscot Investment Management Company Inc. increased its holdings in shares of KeyCorp by 21.4% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 45,308 shares of the financial services provider’s stock valued at $652,000 after acquiring an additional 8,000 shares during the last quarter. Cozad Asset Management Inc. acquired a new position in shares of KeyCorp during the 4th quarter valued at about $2,007,000. Van ECK Associates Corp increased its holdings in shares of KeyCorp by 31.4% during the 4th quarter. Van ECK Associates Corp now owns 8,463 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 2,021 shares during the last quarter. Convergence Investment Partners LLC acquired a new position in shares of KeyCorp during the 4th quarter valued at about $191,000. Finally, Intact Investment Management Inc. increased its holdings in shares of KeyCorp by 17.8% during the 4th quarter. Intact Investment Management Inc. now owns 278,200 shares of the financial services provider’s stock valued at $4,006,000 after acquiring an additional 42,000 shares during the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

KEY opened at $14.93 on Friday. 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 stock has a market cap of $13.84 billion, a PE ratio of 18.89 and a beta of 1.28. The stock’s 50 day simple moving average is $14.80 and its 200-day simple moving average is $13.65. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86.

KeyCorp (NYSE:KEY) last posted 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Sell-side analysts forecast that KeyCorp will post 1.15 EPS for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the transaction, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Trina M. Evans sold 12,335 shares of the company’s 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 transaction, the director now directly owns 81,622 shares in the company, valued at approximately $1,161,481.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,442 shares of company stock valued at $303,914. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Raymond James assumed coverage on KeyCorp in a report on Monday, January 8th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods increased their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Morgan Stanley lifted their price target on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Piper Sandler lifted their price target on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Wedbush dropped their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.71.

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.