KeyCorp (NYSE:KEY) Insider Andrew Paine III Sells 39,130 Shares of Company Stock

KeyCorp (NYSE:KEY) insider Andrew Paine III sold 39,130 shares of the firm’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total transaction of $829,556.00. Following the completion of the transaction, the insider directly owned 191,571 shares of the company’s stock, valued at approximately $4,061,305.20. The trade was a 16.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

KeyCorp Stock Up 1.3%

KEY opened at $21.48 on Friday. The firm has a market capitalization of $22.92 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08. KeyCorp has a one year low of $16.91 and a one year high of $24.07. The company has a fifty day moving average price of $20.95 and a 200-day moving average price of $21.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. Equities research analysts expect that KeyCorp will post 1.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KEY shares. Weiss Ratings lowered KeyCorp from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. JPMorgan Chase & Co. dropped their price target on KeyCorp from $24.50 to $23.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Evercore reissued an “outperform” rating and set a $24.00 price objective on shares of KeyCorp in a report on Thursday, October 1st. Keefe, Bruyette & Woods upped their price objective on shares of KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Finally, UBS Group decreased their price objective on shares of KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.22.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KEY. N.E.W. Advisory Services LLC purchased a new position in shares of KeyCorp in the 2nd quarter worth about $30,000. Silvant Capital Management LLC bought a new position in shares of KeyCorp during the 2nd quarter valued at about $30,000. Keating Financial Advisory Services Inc. bought a new position in shares of KeyCorp during the 2nd quarter valued at about $31,000. GK Wealth Management LLC bought a new position in shares of KeyCorp during the 3rd quarter valued at about $30,000. Finally, Trust Co. of Vermont purchased a new position in shares of KeyCorp during the 2nd quarter valued at about $44,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.