KeyCorp $KEY Shares Acquired by Ethic Inc.

Ethic Inc. boosted its holdings in shares of KeyCorp (NYSE:KEY) by 15.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 285,192 shares of the financial services provider’s stock after purchasing an additional 38,472 shares during the period. Ethic Inc.’s holdings in KeyCorp were worth $4,911,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Activest Wealth Management lifted its position in shares of KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,404 shares in the last quarter. Tompkins Financial Corp purchased a new stake in shares of KeyCorp in the 2nd quarter valued at approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of KeyCorp in the 1st quarter valued at approximately $28,000. Allworth Financial LP lifted its position in shares of KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,543 shares in the last quarter. Finally, Concord Wealth Partners lifted its position in shares of KeyCorp by 71.5% in the 2nd quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 910 shares in the last quarter. 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 stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider owned 245,044 shares in the company, valued at $4,726,898.76. This represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. 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 report on Wednesday, October 1st. Morgan Stanley upped their price target 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. Weiss Ratings reiterated a “hold (c)” rating on shares of KeyCorp in a research report on Wednesday, October 8th. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price for the company. in a research report on Wednesday, July 2nd. Finally, TD Cowen increased their target price on shares of KeyCorp from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.75.

KeyCorp Stock Up 0.3%

KEY stock opened at $17.52 on Friday. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $19.21 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 0.53 and a beta of 1.15. The company has a 50 day moving average of $18.52 and a two-hundred day moving average of $17.15.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the business posted ($0.47) EPS. KeyCorp’s quarterly revenue was up 172.7% on a year-over-year basis. On average, equities analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

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.