Envestnet Portfolio Solutions Inc. Buys 3,025 Shares of KeyCorp $KEY

Envestnet Portfolio Solutions Inc. increased its stake in KeyCorp (NYSE:KEY) by 16.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,329 shares of the financial services provider’s stock after acquiring an additional 3,025 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in KeyCorp were worth $372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its stake in shares of KeyCorp by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock valued at $1,101,000 after acquiring an additional 3,145 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of KeyCorp in the 1st quarter valued at about $2,171,000. Signal Advisors Wealth LLC bought a new stake in shares of KeyCorp in the 2nd quarter valued at about $431,000. Gradient Investments LLC bought a new stake in shares of KeyCorp in the 2nd quarter valued at about $1,973,000. Finally, AQR Capital Management LLC lifted its stake in shares of KeyCorp by 5.1% in the 1st quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock valued at $6,495,000 after acquiring an additional 20,429 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 0.3%

KEY stock opened at $17.49 on Thursday. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04. The business’s 50 day moving average price is $18.54 and its two-hundred day moving average price is $17.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $19.18 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 0.53 and a beta of 1.15.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned ($0.47) EPS. The business’s revenue for the quarter was up 172.7% on a year-over-year basis. As a group, analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KeyCorp in a research report on Wednesday, October 8th. Truist Financial lowered their price target on KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Wells Fargo & Company upped their price target on KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Evercore ISI upped their price target on KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, UBS Group upped their price target on KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, KeyCorp has an average rating of “Hold” and an average price target of $20.75.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

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.