Morgan Stanley Lowers KeyCorp (NYSE:KEY) Price Target to $22.00

KeyCorp (NYSE:KEY) had its target price reduced by investment analysts at Morgan Stanley from $23.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 25.90% from the stock’s previous close.

Several other brokerages also recently weighed in on KEY. Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. Wedbush lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. UBS Group lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Barclays lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $17.00 in a report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $19.58.

KeyCorp Trading Up 1.0 %

Shares of KeyCorp stock opened at $17.47 on Wednesday. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $17.32 billion, a P/E ratio of -58.24, a PEG ratio of 0.67 and a beta of 1.27. The company’s fifty day moving average is $18.10 and its two-hundred day moving average is $17.06.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On KeyCorp

A number of institutional investors have recently modified their holdings of the company. Wolff Wiese Magana LLC grew its holdings in KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC purchased a new stake in KeyCorp in the third quarter valued at approximately $28,000. Larson Financial Group LLC grew its holdings in KeyCorp by 90.8% in the third quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 918 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in KeyCorp in the third quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in KeyCorp in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 79.69% 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.