Resona Asset Management Co. Ltd. Boosts Holdings in KeyCorp $KEY

Resona Asset Management Co. Ltd. raised its stake in shares of KeyCorp (NYSE:KEY) by 2.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,748 shares of the financial services provider’s stock after buying an additional 7,780 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in KeyCorp were worth $5,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KEY. Activest Wealth Management boosted its position in shares of KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 1,404 shares during the last quarter. Tompkins Financial Corp purchased a new stake in KeyCorp in the 2nd quarter worth $26,000. Zions Bancorporation National Association UT purchased a new stake in KeyCorp in the 1st quarter worth $28,000. Allworth Financial LP boosted its holdings in shares of KeyCorp by 246.9% during the 1st 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 last quarter. Finally, Concord Wealth Partners grew its position 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 valued at $38,000 after purchasing an additional 910 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Activity

In other news, insider Andrew J. Paine III sold 44,953 shares of the company’s stock in a transaction dated 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 directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial decreased their target price on KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Evercore ISI upped their price objective on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. 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 report on Friday, October 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of KeyCorp in a report on Friday, October 31st. Finally, Royal Bank Of Canada upped 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. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $20.75.

KeyCorp Trading Up 2.7%

KEY opened at $18.07 on Monday. 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 stock’s 50 day moving average price is $18.27 and its 200-day moving average price is $17.50. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of 22.30, a P/E/G ratio of 0.52 and a beta of 1.18.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 revenue was up 172.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.47) EPS. On average, equities analysts forecast that KeyCorp will post 1.5 EPS for the current year.

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.