KeyCorp (NYSE:KEY – Get Free Report) had its target price cut by research analysts at Morgan Stanley from $23.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 24.47% from the stock’s previous close.
A number of other analysts have also commented on the company. Wedbush lifted their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group boosted their target price on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Piper Sandler lifted their price target on shares of KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, DA Davidson lifted their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.
Get Our Latest Report on KeyCorp
KeyCorp Stock Down 3.4 %
Insider Buying and Selling
In related news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the sale, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.
Institutional Trading of KeyCorp
Several institutional investors have recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its position in shares of KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after buying an additional 1,142 shares in the last quarter. American Capital Advisory LLC purchased a new position in shares of KeyCorp during the 3rd quarter valued at $28,000. Larson Financial Group LLC grew its stake in shares of KeyCorp by 90.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 918 shares during the period. Catalyst Capital Advisors LLC bought a new position in shares of KeyCorp during the 3rd quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new stake in KeyCorp in the 3rd quarter valued at about $38,000. Institutional investors own 79.69% of the company’s stock.
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.
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