Blue Trust Inc. Buys 3,277 Shares of KeyCorp $KEY

Blue Trust Inc. raised its stake in shares of KeyCorp (NYSE:KEY) by 15.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,063 shares of the financial services provider’s stock after buying an additional 3,277 shares during the period. Blue Trust Inc.’s holdings in KeyCorp were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Dakota Wealth Management raised 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 purchasing an additional 586 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised 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 during the period. AlphaCore Capital LLC raised 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 during the period. SBI Securities Co. Ltd. raised 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 during the period. Finally, Greenleaf Trust raised 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 during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Up 2.2%

NYSE:KEY opened at $17.58 on Tuesday. 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 0.84 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $19.27 billion, a P/E ratio of -251.09, a P/E/G ratio of 0.55 and a beta of 1.15. The stock’s fifty day simple moving average is $18.57 and its 200-day simple moving average is $17.04.

KeyCorp (NYSE:KEY) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter last year, the business earned $0.25 earnings per share. The company’s revenue was up 20.6% compared to the same quarter last year. Equities research analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on KEY shares. Citigroup reiterated a “neutral” rating and issued a $20.00 price objective (up from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Wells Fargo & Company lifted their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Bank of America lifted their price target on KeyCorp from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, June 16th. TD Cowen boosted 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. Finally, UBS Group boosted 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. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $20.86.

Insider Buying and Selling

In other news, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer directly owned 619,895 shares of the company’s stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the transaction, the director directly owned 82,719 shares in the company, valued at approximately $1,544,363.73. This represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,102 shares of company stock valued at $3,299,664 in the last 90 days. 0.52% of the stock is owned by insiders.

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.