KeyCorp (NYSE:KEY) Downgraded by Citigroup to “Neutral”

KeyCorp (NYSE:KEY) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, FinViz reports. They presently have a $19.00 price target on the financial services provider’s stock. Citigroup’s target price indicates a potential downside of 4.86% from the company’s current price.

KEY has been the subject of several other research reports. Barclays upped their target price on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Evercore ISI upped their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Finally, Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.79.

KeyCorp Price Performance

Shares of KEY opened at $19.97 on Thursday. The stock has a market cap of $18.84 billion, a P/E ratio of 1,997.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. KeyCorp has a 1 year low of $10.73 and a 1 year high of $20.00. The stock’s 50-day moving average price is $16.88 and its two-hundred day moving average price is $15.59. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.09.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.61% of the company’s stock.

Institutional Trading of KeyCorp

Several institutional investors and hedge funds have recently bought and sold shares of KEY. BI Asset Management Fondsmaeglerselskab A S raised its stake in KeyCorp by 93.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 41,992 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 20,308 shares during the period. GSA Capital Partners LLP lifted its stake in shares of KeyCorp by 315.2% during the 1st quarter. GSA Capital Partners LLP now owns 48,153 shares of the financial services provider’s stock worth $761,000 after buying an additional 36,556 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of KeyCorp by 0.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 193,354 shares of the financial services provider’s stock worth $3,057,000 after buying an additional 894 shares during the period. Manchester Capital Management LLC grew its stake in KeyCorp by 39.5% in the 1st quarter. Manchester Capital Management LLC now owns 9,334 shares of the financial services provider’s stock valued at $148,000 after buying an additional 2,642 shares during the last quarter. Finally, Duality Advisers LP bought a new position in KeyCorp in the 1st quarter valued at about $2,119,000. Institutional investors own 79.69% of the company’s stock.

About KeyCorp

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.