Huntington National Bank Has $1.38 Million Stake in KeyCorp (NYSE:KEY)

Huntington National Bank raised its position in KeyCorp (NYSE:KEY) by 1.2% in the third quarter, HoldingsChannel reports. The fund owned 82,537 shares of the financial services provider’s stock after purchasing an additional 958 shares during the quarter. Huntington National Bank’s holdings in KeyCorp were worth $1,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bleakley Financial Group LLC raised its position in KeyCorp by 11.2% in the 1st quarter. Bleakley Financial Group LLC now owns 12,578 shares of the financial services provider’s stock valued at $199,000 after buying an additional 1,265 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of KeyCorp by 0.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 1,082,272 shares of the financial services provider’s stock valued at $17,111,000 after acquiring an additional 8,315 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of KeyCorp by 14.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,078,792 shares of the financial services provider’s stock worth $17,056,000 after buying an additional 137,037 shares in the last quarter. HBK Sorce Advisory LLC purchased a new stake in shares of KeyCorp in the 1st quarter valued at about $167,000. Finally, Intech Investment Management LLC bought a new stake in KeyCorp during the first quarter valued at approximately $207,000. Institutional investors own 79.69% of the company’s stock.

Insider Activity

In related news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

KeyCorp Stock Performance

Shares of NYSE KEY opened at $19.16 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average price is $17.16 and its 200-day moving average price is $15.77. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00. The company has a market cap of $18.99 billion, a PE ratio of 1,916.00, a PEG ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. As a group, analysts anticipate that KeyCorp will post 1.09 EPS for the current year.

Analyst Upgrades and Downgrades

KEY has been the subject of a number of research reports. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Royal Bank of Canada boosted their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Morgan Stanley upped their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Wedbush lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Finally, Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Thursday, November 7th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.03.

About KeyCorp

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.