Hantz Financial Services Inc. Cuts Position in KeyCorp $KEY

Hantz Financial Services Inc. lessened its holdings in KeyCorp (NYSE:KEY) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,414 shares of the financial services provider’s stock after selling 21,399 shares during the period. Hantz Financial Services Inc.’s holdings in KeyCorp were worth $7,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dakota Wealth Management increased its position in shares of KeyCorp by 2.2% in the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock valued at $477,000 after buying an additional 586 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in KeyCorp by 2.9% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 639 shares in the last quarter. AlphaCore Capital LLC increased its holdings in KeyCorp by 5.2% in the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 651 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in KeyCorp by 34.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 671 shares in the last quarter. Finally, Greenleaf Trust increased its holdings in KeyCorp by 5.7% in the 2nd quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KEY. Weiss Ratings reissued a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Wells Fargo & Company boosted their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Truist Financial lowered their price target on KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Finally, Morgan Stanley increased their price objective on KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.75.

KeyCorp Price Performance

NYSE:KEY opened at $17.50 on Friday. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The stock has a market cap of $19.19 billion, a PE ratio of 21.60, a P/E/G ratio of 0.52 and a beta of 1.15. The stock has a 50 day moving average price of $18.46 and a 200 day moving average price of $17.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83.

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

Insider Transactions at KeyCorp

In related news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the sale, the insider directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company’s stock.

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.