Hexavest Inc. grew its position in shares of KeyCorp (NYSE:KEY) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,238,349 shares of the financial services provider’s stock after purchasing an additional 18,318 shares during the period. Hexavest Inc. owned 0.23% of KeyCorp worth $45,304,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in KEY. Vanguard Group Inc. grew its position in shares of KeyCorp by 0.4% during the second quarter. Vanguard Group Inc. now owns 112,955,500 shares of the financial services provider’s stock worth $2,004,961,000 after buying an additional 415,547 shares in the last quarter. State Street Corp raised its stake in shares of KeyCorp by 1.1% during the third quarter. State Street Corp now owns 50,413,657 shares of the financial services provider’s stock valued at $899,380,000 after purchasing an additional 554,860 shares in the last quarter. Invesco Ltd. raised its stake in shares of KeyCorp by 2.3% during the second quarter. Invesco Ltd. now owns 17,028,799 shares of the financial services provider’s stock valued at $302,262,000 after purchasing an additional 381,757 shares in the last quarter. Bank of America Corp DE raised its stake in shares of KeyCorp by 1.0% during the second quarter. Bank of America Corp DE now owns 14,076,297 shares of the financial services provider’s stock valued at $249,854,000 after purchasing an additional 142,938 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of KeyCorp by 1.1% during the second quarter. Northern Trust Corp now owns 11,798,679 shares of the financial services provider’s stock valued at $209,426,000 after purchasing an additional 133,547 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors.
In related news, insider Amy G. Brady sold 15,756 shares of KeyCorp stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $19.27, for a total transaction of $303,618.12. Following the sale, the insider now directly owns 95,432 shares in the company, valued at $1,838,974.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Trina M. Evans sold 25,436 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $18.32, for a total transaction of $465,987.52. Following the completion of the sale, the director now owns 108,678 shares in the company, valued at $1,990,980.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 670,702 shares of company stock valued at $12,328,208. Insiders own 0.08% of the company’s stock.
Several equities research analysts have commented on KEY shares. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Wednesday, November 6th. Morgan Stanley lowered their price target on KeyCorp from $21.00 to $20.50 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Co lowered KeyCorp from an “equal weight” rating to an “underweight” rating and set a $20.00 price target for the company. in a report on Monday, January 6th. UBS Group raised their price target on KeyCorp from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Evercore ISI assumed coverage on KeyCorp in a research note on Wednesday, November 20th. They issued a “buy” rating and a $21.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $24.18.
Shares of NYSE KEY traded up $0.18 during midday trading on Thursday, reaching $19.35. The company had a trading volume of 140,858 shares, compared to its average volume of 7,070,903. The business’s 50-day simple moving average is $19.83 and its 200 day simple moving average is $18.21. KeyCorp has a 1 year low of $14.82 and a 1 year high of $20.52. The stock has a market cap of $19.21 billion, a P/E ratio of 11.16, a P/E/G ratio of 1.81 and a beta of 1.32. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.95.
KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 17th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. Analysts predict that KeyCorp will post 1.78 earnings per share for the current year.
KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.
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