Western Wealth Management LLC Trims Stock Holdings in KeyCorp (NYSE:KEY)

Western Wealth Management LLC decreased its position in KeyCorp (NYSE:KEY) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,070 shares of the financial services provider’s stock after selling 3,459 shares during the period. Western Wealth Management LLC’s holdings in KeyCorp were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KEY. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of KeyCorp by 2.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider’s stock valued at $460,000 after buying an additional 540 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of KeyCorp by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider’s stock valued at $424,000 after buying an additional 584 shares during the last quarter. BOKF NA raised its stake in shares of KeyCorp by 3.4% during the 4th quarter. BOKF NA now owns 20,170 shares of the financial services provider’s stock valued at $351,000 after buying an additional 665 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of KeyCorp by 4.1% during the 1st quarter. Cetera Investment Advisers now owns 18,427 shares of the financial services provider’s stock valued at $412,000 after buying an additional 720 shares during the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in shares of KeyCorp by 6.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock valued at $178,000 after buying an additional 732 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other news, CAO Douglas M. Schosser sold 3,326 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the transaction, the chief accounting officer now directly owns 19,795 shares in the company, valued at approximately $277,130. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares in the company, valued at $1,376,623.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Douglas M. Schosser sold 3,326 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at $277,130. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock worth $303,914 in the last ninety days. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Wedbush cut their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Raymond James assumed coverage on KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating for the company. Argus lifted their price target on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. Finally, DA Davidson cut their price target on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 19th. One 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, KeyCorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

KeyCorp Trading Up 1.7 %

Shares of KeyCorp stock opened at $14.63 on Friday. The stock has a market cap of $13.57 billion, a P/E ratio of 18.52 and a beta of 1.29. The stock’s 50 day simple moving average is $14.69 and its 200-day simple moving average is $13.38. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.86.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Analysts predict that KeyCorp will post 1.17 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.