KeyCorp $KEY Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its holdings in shares of KeyCorp (NYSE:KEY) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,986 shares of the financial services provider’s stock after selling 2,217 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in KeyCorp were worth $9,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Mattson Financial Services LLC acquired a new position in KeyCorp during the 2nd quarter valued at about $339,000. Nordea Investment Management AB increased its position in KeyCorp by 23.2% during the 2nd quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock valued at $1,867,000 after buying an additional 20,228 shares in the last quarter. Activest Wealth Management increased its position in KeyCorp by 8,775.0% during the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,404 shares in the last quarter. Bayforest Capital Ltd acquired a new position in KeyCorp during the 2nd quarter valued at about $116,000. Finally, Wilmington Savings Fund Society FSB increased its position in KeyCorp by 17.2% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 28,151 shares of the financial services provider’s stock valued at $490,000 after buying an additional 4,123 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

KeyCorp Stock Up 1.1%

Shares of KEY stock opened at $16.96 on Monday. The stock has a 50 day moving average of $18.56 and a 200 day moving average of $17.09. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $18.60 billion, a P/E ratio of 20.94, a P/E/G ratio of 0.54 and a beta of 1.15. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.KeyCorp’s quarterly revenue was up 172.7% on a year-over-year basis. During the same period last year, the business earned ($0.47) earnings per share. As a group, sell-side analysts expect that KeyCorp will post 1.5 EPS for the current year.

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the transaction, the director directly owned 82,719 shares in the company, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the transaction, the insider owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 174,102 shares of company stock worth $3,299,664. 0.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Citigroup reaffirmed a “neutral” rating and set a $20.00 target price (up from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Wells Fargo & Company increased their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. UBS Group increased their price objective on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, DA Davidson cut their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, KeyCorp currently has an average rating of “Hold” and an average price target of $20.75.

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.