Strs Ohio Boosts Holdings in KeyCorp $KEY

Strs Ohio raised its holdings in KeyCorp (NYSE:KEY) by 32.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,353 shares of the financial services provider’s stock after buying an additional 28,888 shares during the quarter. Strs Ohio’s holdings in KeyCorp were worth $2,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Activest Wealth Management grew its holdings in KeyCorp by 8,775.0% in the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 1,404 shares during the period. Tompkins Financial Corp purchased a new stake in shares of KeyCorp during the 2nd quarter valued at $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of KeyCorp during the 1st quarter valued at $28,000. Allworth Financial LP grew its position in KeyCorp by 246.9% during the first 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 period. Finally, Concord Wealth Partners grew its position in KeyCorp by 71.5% during the second 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 period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

KEY has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Truist Financial decreased their price objective on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Friday, October 17th. Morgan Stanley upped their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of KeyCorp in a research report on Friday, October 31st. Finally, Royal Bank Of Canada upped their target price on KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.75.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following 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 this link. Insiders own 0.52% of the company’s stock.

KeyCorp Trading Down 1.3%

NYSE:KEY opened at $17.31 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $18.37 and its two-hundred day moving average is $17.42. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The company has a market cap of $18.98 billion, a PE ratio of 21.37, a P/E/G ratio of 0.52 and a beta of 1.15.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted ($0.47) EPS. The company’s revenue for the quarter was up 172.7% on a year-over-year basis. On average, analysts predict that KeyCorp will post 1.5 EPS for the current year.

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.