KeyCorp (NYSE:KEY) Stock Holdings Trimmed by Palouse Capital Management Inc.

Palouse Capital Management Inc. lowered its holdings in shares of KeyCorp (NYSE:KEY) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 205,113 shares of the financial services provider’s stock after selling 8,903 shares during the period. KeyCorp makes up approximately 2.1% of Palouse Capital Management Inc.’s portfolio, making the stock its 16th largest holding. Palouse Capital Management Inc.’s holdings in KeyCorp were worth $2,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in KEY. Cetera Advisor Networks LLC raised its stake in KeyCorp by 37.9% during the 1st quarter. Cetera Advisor Networks LLC now owns 12,740 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 3,504 shares in the last quarter. Sei Investments Co. raised its stake in shares of KeyCorp by 12.9% in the 1st quarter. Sei Investments Co. now owns 1,183,502 shares of the financial services provider’s stock worth $26,543,000 after buying an additional 135,193 shares in the last quarter. Aviva PLC raised its stake in shares of KeyCorp by 177.0% in the 1st quarter. Aviva PLC now owns 525,009 shares of the financial services provider’s stock worth $11,750,000 after buying an additional 335,457 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of KeyCorp in the 1st quarter worth $38,000. Finally, Allianz Asset Management GmbH raised its stake in shares of KeyCorp by 10.6% in the 1st quarter. Allianz Asset Management GmbH now owns 212,557 shares of the financial services provider’s stock worth $4,757,000 after buying an additional 20,384 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,795 shares in the company, valued at approximately $277,130. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of a number of research reports. Piper Sandler boosted their price objective on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Morgan Stanley boosted their target price on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Wedbush cut their target price on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Royal Bank of Canada lifted their price target on KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Stock Performance

KeyCorp stock traded up $0.25 during trading hours on Friday, hitting $14.63. The stock had a trading volume of 16,936,019 shares, compared to its average volume of 16,274,800. The company has a 50-day moving average of $14.69 and a two-hundred day moving average of $13.38. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The company has a market cap of $13.57 billion, a PE ratio of 16.44 and a beta of 1.29. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The company’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. On average, equities research analysts anticipate that KeyCorp will post 1.17 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.