TD Asset Management Inc Has $6.26 Million Stake in KeyCorp $KEY

TD Asset Management Inc trimmed its stake in shares of KeyCorp (NYSE:KEY) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,210 shares of the financial services provider’s stock after selling 16,185 shares during the period. TD Asset Management Inc’s holdings in KeyCorp were worth $6,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of KeyCorp by 7.2% during the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock worth $2,004,273,000 after acquiring an additional 8,412,625 shares during the period. Price T Rowe Associates Inc. MD grew its position in KeyCorp by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after purchasing an additional 14,651,281 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in KeyCorp by 12.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock valued at $487,882,000 after purchasing an additional 3,327,972 shares in the last quarter. Invesco Ltd. grew its position in KeyCorp by 19.5% in the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock valued at $329,777,000 after purchasing an additional 3,363,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in KeyCorp by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 11,201,253 shares of the financial services provider’s stock valued at $179,084,000 after purchasing an additional 319,019 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Stock Performance

Shares of KEY opened at $16.96 on Monday. The firm has a 50-day moving average of $18.56 and a 200-day moving average of $17.09. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The company has a market cap of $18.60 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last announced 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. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted ($0.47) EPS. The company’s quarterly revenue was up 172.7% on a year-over-year basis. As a group, equities analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group decreased 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. Baird R W downgraded shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. DA Davidson decreased their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday. Truist Financial decreased their target price on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Friday. Finally, Morgan Stanley lifted their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.75.

Insider Transactions at KeyCorp

In other news, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the sale, the chief executive officer owned 619,895 shares in the company, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the sale, the director owned 82,719 shares of the company’s stock, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 174,102 shares of company stock worth $3,299,664. 0.52% of the stock is owned by insiders.

KeyCorp 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.