BNP PARIBAS ASSET MANAGEMENT Holding S.A. Decreases Position in KeyCorp $KEY

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in shares of KeyCorp (NYSE:KEY) by 57.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,960,295 shares of the financial services provider’s stock after selling 2,614,435 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.18% of KeyCorp worth $34,148,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fourth Dimension Wealth LLC lifted its stake in KeyCorp by 45.5% during the second quarter. Fourth Dimension Wealth LLC now owns 2,400 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 750 shares during the last quarter. Huntington National Bank increased its position in shares of KeyCorp by 12.4% during the second quarter. Huntington National Bank now owns 107,590 shares of the financial services provider’s stock worth $1,874,000 after purchasing an additional 11,867 shares in the last quarter. Bryce Point Capital LLC acquired a new stake in shares of KeyCorp during the second quarter worth about $185,000. Connable Office Inc. increased its position in shares of KeyCorp by 7.3% during the second quarter. Connable Office Inc. now owns 41,828 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 2,834 shares in the last quarter. Finally, South Dakota Investment Council acquired a new stake in shares of KeyCorp during the second quarter worth about $260,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. DA Davidson cut their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of KeyCorp in a research report on Friday, October 31st. Jefferies Financial Group cut their target price on KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Finally, UBS Group lifted their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.75.

Insider Activity

In other news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

KeyCorp Trading Down 1.3%

NYSE:KEY opened at $17.31 on Wednesday. The firm has a market cap of $18.98 billion, a P/E ratio of 21.37, a PEG ratio of 0.52 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $18.37 and its 200-day simple moving average is $17.42. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04.

KeyCorp (NYSE:KEY) last released 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. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The company’s revenue for the quarter was up 172.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.47) earnings per share. Equities analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

KeyCorp Company 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.