Swiss Life Asset Management Ltd lifted its position in shares of KeyCorp (NYSE:KEY – Free Report) by 72.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,287,205 shares of the financial services provider’s stock after purchasing an additional 960,625 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in KeyCorp were worth $47,208,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Maseco LLP acquired a new position in shares of KeyCorp during the fourth quarter worth approximately $27,000. United Community Bank purchased a new stake in KeyCorp in the 3rd quarter valued at $27,000. GoalVest Advisory LLC purchased a new stake in KeyCorp in the 4th quarter valued at $30,000. True Wealth Design LLC raised its position in KeyCorp by 1,263.5% in the 4th quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,592 shares during the last quarter. Finally, Sachetta LLC raised its position in KeyCorp by 1,246.1% in the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,595 shares during the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the company. Royal Bank Of Canada increased their price target on KeyCorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. lowered their price target on KeyCorp from $24.50 to $22.50 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Piper Sandler increased their price target on KeyCorp from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Wall Street Zen lowered KeyCorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings raised KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 25th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.18.
KeyCorp Stock Up 0.0%
Shares of NYSE:KEY opened at $21.61 on Monday. The company has a market capitalization of $23.42 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.69 and a beta of 1.06. 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 business has a fifty day moving average price of $20.72 and a two-hundred day moving average price of $20.27. KeyCorp has a 1 year low of $15.28 and a 1 year high of $23.34.
KeyCorp (NYSE:KEY – Get Free Report) last announced its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Analysts forecast that KeyCorp will post 1.82 earnings per share for the current year.
About KeyCorp
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.
The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.
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