KeyCorp $KEY Stock Sold by Ninety One UK Ltd

Ninety One UK Ltd reduced its position in KeyCorp (NYSE:KEY) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,639,073 shares of the financial services provider’s stock after selling 1,494,413 shares during the period. Ninety One UK Ltd’s holdings in KeyCorp were worth $153,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new stake in KeyCorp during the second quarter valued at $3,636,436,000. BlackRock Inc. acquired a new position in shares of KeyCorp in the second quarter worth about $2,039,113,000. State Street Corp raised its position in shares of KeyCorp by 9.0% in the second quarter. State Street Corp now owns 51,368,660 shares of the financial services provider’s stock worth $1,184,048,000 after acquiring an additional 4,238,225 shares during the period. Deutsche Bank AG acquired a new position in shares of KeyCorp in the second quarter worth about $380,244,000. Finally, North Reef Capital Management LP purchased a new stake in shares of KeyCorp during the 1st quarter worth about $253,632,000. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Price Performance

Shares of KEY traded up $0.29 during mid-day trading on Thursday, hitting $20.08. 12,183,990 shares of the company were exchanged, compared to its average volume of 13,587,629. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.83 and a current ratio of 0.84. The company has a 50 day moving average of $21.38 and a 200-day moving average of $21.82. The stock has a market cap of $21.42 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company posted $0.35 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. Analysts expect that KeyCorp will post 1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KEY shares. Stephens restated an “overweight” rating and issued a $26.00 price target on shares of KeyCorp in a research note on Tuesday, September 15th. Jefferies Financial Group lowered their price target on KeyCorp from $24.00 to $22.00 and set a “hold” rating on the stock in a research report on Thursday, September 24th. Robert W. Baird increased their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Weiss Ratings lowered KeyCorp from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, UBS Group dropped their price objective on KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.33.

KeyCorp Profile

KeyCorp (NYSE:KEY) is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank’s offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.