Sumitomo Mitsui Trust Group Inc. Boosts Position in KeyCorp $KEY

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of KeyCorp (NYSE:KEY) by 1.1% during the 2nd quarter, Holdings Channel reports. The fund owned 2,106,950 shares of the financial services provider’s stock after buying an additional 23,144 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in KeyCorp were worth $36,703,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new stake in shares of KeyCorp in the 4th quarter valued at approximately $476,000. GAMMA Investing LLC raised its stake in shares of KeyCorp by 9.6% in the 1st quarter. GAMMA Investing LLC now owns 33,339 shares of the financial services provider’s stock valued at $533,000 after acquiring an additional 2,926 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of KeyCorp by 31.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider’s stock valued at $1,787,000 after acquiring an additional 26,615 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of KeyCorp by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock valued at $1,101,000 after acquiring an additional 3,145 shares during the period. Finally, KBC Group NV raised its stake in shares of KeyCorp by 7.5% in the 1st quarter. KBC Group NV now owns 612,518 shares of the financial services provider’s stock valued at $9,794,000 after acquiring an additional 42,879 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In other news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KEY shares. Royal Bank Of Canada boosted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. UBS Group boosted their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday, October 8th. Finally, Evercore ISI boosted their price target on shares of KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp currently has an average rating of “Hold” and an average target price of $20.75.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $17.59 on Wednesday. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a market cap of $19.28 billion, a PE ratio of 21.71, a P/E/G ratio of 0.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The business has a 50-day simple moving average of $18.49 and a 200-day simple moving average of $17.28.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. The business’s revenue for the quarter was up 172.7% on a year-over-year basis. On average, equities research analysts forecast 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.