Dorsey & Whitney Trust CO LLC Sells 4,713 Shares of KeyCorp $KEY

Dorsey & Whitney Trust CO LLC trimmed its stake in KeyCorp (NYSE:KEY) by 19.3% during the second quarter, Holdings Channel reports. The fund owned 19,682 shares of the financial services provider’s stock after selling 4,713 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in KeyCorp were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of KeyCorp by 23.2% in the second quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock valued at $1,867,000 after buying an additional 20,228 shares during the period. Signal Advisors Wealth LLC bought a new position in shares of KeyCorp during the 2nd quarter worth $431,000. Gradient Investments LLC purchased a new stake in KeyCorp in the 2nd quarter worth about $1,973,000. AQR Capital Management LLC increased its holdings in KeyCorp by 5.1% in the 1st quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock worth $6,495,000 after acquiring an additional 20,429 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in KeyCorp by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,356,598 shares of the financial services provider’s stock valued at $117,632,000 after acquiring an additional 172,151 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KEY. UBS Group increased their target price on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. TD Cowen upped their price target on shares of KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of KeyCorp in a research note on Friday, October 31st. Finally, Jefferies Financial Group lowered their target price on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, KeyCorp has an average rating of “Hold” and a consensus target price of $20.75.

KeyCorp Price Performance

KEY stock opened at $17.35 on Thursday. The firm has a 50 day moving average of $18.03 and a 200-day moving average of $17.63. The firm has a market capitalization of $18.96 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (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 business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted ($0.47) EPS. The business’s revenue for the quarter was up 172.7% compared to the same quarter last year. As a group, sell-side analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

KeyCorp Company 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.