KeyCorp $KEY Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC decreased its holdings in shares of KeyCorp (NYSE:KEY) by 40.6% in the 2nd quarter, Holdings Channel reports. The firm owned 403,870 shares of the financial services provider’s stock after selling 275,935 shares during the quarter. Wealthfront Advisers LLC’s holdings in KeyCorp were worth $7,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Activest Wealth Management boosted its holdings 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 buying an additional 1,404 shares during the period. Tompkins Financial Corp bought a new position in KeyCorp in the second quarter worth about $26,000. Zions Bancorporation National Association UT bought a new position in KeyCorp in the first quarter worth about $28,000. Allworth Financial LP boosted its stake in KeyCorp by 246.9% in the first 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 during the period. Finally, Concord Wealth Partners grew its holdings 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 during the last quarter. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Stock Down 1.2%

KEY stock opened at $17.61 on Tuesday. The firm has a market cap of $19.30 billion, a PE ratio of 21.73, a P/E/G ratio of 0.54 and a beta of 1.15. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $18.51 and a 200 day simple moving average of $17.25.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the company earned ($0.47) earnings per share. The firm’s revenue was up 172.7% on a year-over-year basis. Equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KEY has been the topic of several recent research reports. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Wednesday, July 2nd. UBS Group increased their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company boosted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. DA Davidson lowered their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Finally, Morgan Stanley increased their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.75.

Insider Activity

In other news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider directly owned 245,044 shares of the company’s stock, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by company insiders.

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.