Asset Management One Co. Ltd. Reduces Position in KeyCorp $KEY

Asset Management One Co. Ltd. decreased its position in KeyCorp (NYSE:KEY) by 1.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 374,600 shares of the financial services provider’s stock after selling 4,914 shares during the period. Asset Management One Co. Ltd.’s holdings in KeyCorp were worth $6,526,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KEY. Activest Wealth Management lifted its holdings 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 worth $25,000 after buying an additional 1,404 shares in the last quarter. Tompkins Financial Corp purchased a new position in shares of KeyCorp in the 2nd quarter valued at $26,000. Zions Bancorporation National Association UT purchased a new position in shares of KeyCorp in the 1st quarter valued at $28,000. Allworth Financial LP grew its position in shares of KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,543 shares during the last quarter. Finally, Concord Wealth Partners grew its position in KeyCorp by 71.5% during the 2nd 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 during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on KEY. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Wednesday, July 2nd. Jefferies Financial Group cut their target price on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. UBS Group lifted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Morgan Stanley boosted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a report on Monday, September 29th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.75.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

KeyCorp Trading Down 0.1%

NYSE KEY opened at $17.59 on Wednesday. The company’s fifty day simple moving average is $18.49 and its 200-day simple moving average is $17.28. 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 $19.28 billion, a P/E ratio of 21.71, a PEG ratio of 0.53 and a beta of 1.15.

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

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.