KeyCorp $KEY Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 40.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 403,870 shares of the financial services provider’s stock after selling 275,935 shares during the period. Wealthfront Advisers LLC’s holdings in KeyCorp were worth $7,035,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KEY. Activest Wealth Management raised its stake in shares of KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,404 shares during the period. Tompkins Financial Corp purchased a new stake in KeyCorp during the 2nd quarter worth $26,000. Zions Bancorporation National Association UT acquired a new stake in KeyCorp in the 1st quarter valued at $28,000. Allworth Financial LP raised its position in KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,543 shares during the period. Finally, Concord Wealth Partners lifted its stake in shares of KeyCorp by 71.5% during the second quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 910 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Stock Performance

KeyCorp stock opened at $17.61 on Tuesday. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. 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 $19.30 billion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. The stock has a 50 day moving average of $18.51 and a 200-day moving average of $17.25.

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

Insider Activity at KeyCorp

In related news, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on KEY. JPMorgan Chase & Co. increased their target price on KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods upped their price target on KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. DA Davidson lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Truist Financial reduced their target price on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Finally, TD Cowen upped their target price on shares of KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, October 3rd. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.75.

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.