Sentry Investment Management LLC Makes New $60,000 Investment in KeyCorp $KEY

Sentry Investment Management LLC purchased a new position in KeyCorp (NYSE:KEY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,248 shares of the financial services provider’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of KEY. Activest Wealth Management grew its stake in KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,404 shares in the last quarter. Tompkins Financial Corp purchased a new position in KeyCorp in the 2nd quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new position in KeyCorp in the 1st quarter worth approximately $28,000. Allworth Financial LP grew its stake in KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock worth $32,000 after buying an additional 1,543 shares in the last quarter. Finally, FSC Wealth Advisors LLC purchased a new position in KeyCorp in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 1.1%

Shares of KEY opened at $16.96 on Monday. The stock has a market capitalization of $18.60 billion, a P/E ratio of 20.94, a PEG ratio of 0.54 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $18.56 and a two-hundred day simple moving average of $17.09. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

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

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 17,000 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher M. Gorman sold 112,149 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock valued at $3,299,664 in the last quarter. Company insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KEY shares. Evercore ISI upped their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Citigroup reaffirmed a “neutral” rating and issued a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. DA Davidson cut their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday. Finally, TD Cowen upped their price objective 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. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.75.

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.