Rakuten Securities Inc. Acquires New Shares in KeyCorp (NYSE:KEY)

Rakuten Securities Inc. bought a new stake in shares of KeyCorp (NYSE:KEY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,876 shares of the financial services provider’s stock, valued at approximately $56,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new stake in shares of KeyCorp during the 4th quarter valued at $26,000. Sound Income Strategies LLC grew its holdings in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in shares of KeyCorp during the third quarter valued at about $28,000. Baldwin Brothers LLC MA purchased a new stake in shares of KeyCorp in the fourth quarter worth about $35,000. Finally, Point72 Asset Management L.P. bought a new position in shares of KeyCorp in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on KEY. Wedbush decreased their target price on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Evercore ISI increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Jefferies Financial Group boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Stephens raised KeyCorp from an “equal weight” rating to an “overweight” rating in a report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. lifted their price target on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.53.

KeyCorp Stock Performance

KeyCorp stock opened at $14.43 on Thursday. The firm has a fifty day simple moving average of $14.66 and a two-hundred day simple moving average of $13.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. KeyCorp has a twelve month low of $8.53 and a twelve month high of $15.86. The company has a market capitalization of $13.38 billion, a PE ratio of 16.21 and a beta of 1.29.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a return on equity of 10.63% and a net margin of 8.61%. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. Research analysts expect that KeyCorp will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other news, Director Trina M. Evans sold 12,335 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the sale, the director now owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares in the company, valued at $1,161,481.06. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 in the last ninety days. Company insiders own 0.61% of the company’s stock.

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.