Morningstar Investment Management LLC Acquires 2,894 Shares of KeyCorp $KEY

Morningstar Investment Management LLC raised its holdings in KeyCorp (NYSE:KEY) by 17.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,588 shares of the financial services provider’s stock after buying an additional 2,894 shares during the period. Morningstar Investment Management LLC’s holdings in KeyCorp were worth $341,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KEY. Tompkins Financial Corp bought a new position in KeyCorp in the 2nd quarter valued at $26,000. Zions Bancorporation National Association UT bought a new position in KeyCorp in the 1st quarter valued at $28,000. Allworth Financial LP grew its position in KeyCorp by 246.9% in the 1st quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,543 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in KeyCorp in the 1st quarter valued at $34,000. Finally, Concord Wealth Partners grew its position in KeyCorp by 71.5% in the 2nd quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 910 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 2.7%

Shares of NYSE KEY opened at $18.04 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $19.78 billion, a P/E ratio of -257.64, a price-to-earnings-growth ratio of 0.56 and a beta of 1.15. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The business has a fifty day moving average price of $18.58 and a 200 day moving average price of $17.05.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. Equities research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the sale, the insider directly owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Trina M. Evans sold 17,000 shares of the stock in a transaction dated 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 sale, the director owned 82,719 shares of the company’s stock, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock worth $3,299,664 in the last three months. 0.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent research reports. TD Cowen increased their price target on KeyCorp from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Jefferies Financial Group dropped their price target on KeyCorp from $21.00 to $20.00 and set a “hold” rating on the stock in a research report on Wednesday, September 24th. Royal Bank Of Canada increased their price target on KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Truist Financial increased their price target on KeyCorp from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Monday, July 28th. Finally, Evercore ISI increased their price target on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.86.

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.