Harrington Investments INC Grows Stock Holdings in KeyCorp (NYSE:KEY)

Harrington Investments INC boosted its stake in shares of KeyCorp (NYSE:KEY) by 13.5% during the third quarter, Holdings Channel reports. The firm owned 46,204 shares of the financial services provider’s stock after purchasing an additional 5,500 shares during the quarter. Harrington Investments INC’s holdings in KeyCorp were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in KeyCorp during the first quarter valued at $25,000. Crewe Advisors LLC purchased a new stake in shares of KeyCorp during the 1st quarter valued at about $32,000. Quarry LP bought a new position in shares of KeyCorp in the 4th quarter worth approximately $38,000. Fidelis Capital Partners LLC purchased a new position in shares of KeyCorp in the first quarter worth approximately $39,000. Finally, Hexagon Capital Partners LLC increased its holdings in KeyCorp by 189.6% during the third quarter. Hexagon Capital Partners LLC now owns 2,311 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,513 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KEY shares. UBS Group cut shares of KeyCorp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $16.00 to $15.00 in a research note on Monday, July 8th. Evercore ISI boosted their price target on KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research report on Tuesday, September 10th. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $17.00 in a report on Monday. Finally, Wedbush lifted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Insider Buying and Selling

In other news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by corporate insiders.

KeyCorp Stock Up 1.0 %

Shares of KEY stock opened at $17.40 on Tuesday. The company’s fifty day simple moving average is $16.37 and its two-hundred day simple moving average is $15.30. KeyCorp has a 52 week low of $9.50 and a 52 week high of $17.47. The stock has a market cap of $16.41 billion, a P/E ratio of 22.03, a PEG ratio of 0.94 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.27 earnings per share. Analysts predict that KeyCorp will post 1.08 EPS for the current fiscal year.

About KeyCorp

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.