Resona Asset Management Co. Ltd. Purchases 7,780 Shares of KeyCorp $KEY

Resona Asset Management Co. Ltd. grew its position in KeyCorp (NYSE:KEY) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 308,748 shares of the financial services provider’s stock after purchasing an additional 7,780 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in KeyCorp were worth $5,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Activest Wealth Management raised its holdings in shares of KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,404 shares in the last quarter. Tompkins Financial Corp bought a new position in shares of KeyCorp during the second quarter valued at approximately $26,000. Zions Bancorporation National Association UT purchased a new position in KeyCorp during the first quarter valued at approximately $28,000. Allworth Financial LP increased its holdings in KeyCorp by 246.9% during the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,543 shares during the period. Finally, Concord Wealth Partners raised its stake in KeyCorp by 71.5% in the second quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock worth $38,000 after buying an additional 910 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider directly owned 245,044 shares of the company’s stock, valued at $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 SEC, which is accessible through this hyperlink. 0.52% of the stock is currently owned by insiders.

KeyCorp Stock Up 2.7%

Shares of KEY opened at $18.07 on Monday. The firm has a market cap of $19.74 billion, a P/E ratio of 22.30, a PEG 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 stock’s 50 day moving average is $18.27 and its two-hundred day moving average is $17.50. 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 announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm posted ($0.47) EPS. The business’s revenue was up 172.7% on a year-over-year basis. Analysts predict that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on KEY shares. Truist Financial dropped their target price on KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Wells Fargo & Company upped 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. JPMorgan Chase & Co. lifted their target price on KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. Citigroup reiterated a “neutral” rating and issued a $20.00 target price (up from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Finally, DA Davidson decreased their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.