Meeder Asset Management Inc. trimmed its holdings in KeyCorp (NYSE:KEY) by 42.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,356 shares of the financial services provider’s stock after selling 121,567 shares during the quarter. Meeder Asset Management Inc.’s holdings in KeyCorp were worth $2,557,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. American Research & Management Co. acquired a new position in KeyCorp in the first quarter valued at approximately $51,000. WP Advisors LLC purchased a new stake in KeyCorp in the first quarter valued at approximately $102,000. American Asset Management Inc. purchased a new stake in KeyCorp in the first quarter valued at approximately $185,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in KeyCorp in the first quarter valued at approximately $645,000. Finally, Scout Investments Inc. lifted its stake in KeyCorp by 29.6% in the first quarter. Scout Investments Inc. now owns 2,255,557 shares of the financial services provider’s stock valued at $35,525,000 after buying an additional 515,360 shares during the last quarter. 82.52% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Robert A. Deangelis sold 31,166 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $17.37, for a total transaction of $541,353.42. Following the completion of the sale, the insider now owns 196,478 shares in the company, valued at $3,412,822.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela G. Mago sold 4,162 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $17.33, for a total value of $72,127.46. Following the sale, the insider now owns 128,464 shares of the company’s stock, valued at approximately $2,226,281.12. The disclosure for this sale can be found here. 0.67% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Scotiabank reiterated a “buy” rating and issued a $36.00 price objective on shares of KeyCorp in a research note on Friday, February 22nd. Zacks Investment Research cut KeyCorp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. Argus reduced their price objective on KeyCorp from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, January 22nd. Wedbush cut KeyCorp from an “outperform” rating to a “neutral” rating and set a $16.63 price objective for the company. in a research note on Monday, February 4th. They noted that the move was a valuation call. Finally, CIBC reiterated an “average” rating on shares of KeyCorp in a research note on Monday, February 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. KeyCorp has a consensus rating of “Hold” and an average target price of $22.46.
KeyCorp stock opened at $16.98 on Wednesday. KeyCorp has a 12 month low of $13.65 and a 12 month high of $21.91. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market cap of $16.69 billion, a PE ratio of 9.82, a P/E/G ratio of 1.16 and a beta of 1.20.
KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, January 17th. The financial services provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. KeyCorp had a return on equity of 13.26% and a net margin of 24.74%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the business earned $0.33 earnings per share. As a group, sell-side analysts anticipate that KeyCorp will post 1.84 EPS for the current fiscal year.
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KeyCorp Company Profile
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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