Y Intercept Hong Kong Ltd Purchases Shares of 618,367 KeyCorp $KEY

Y Intercept Hong Kong Ltd purchased a new stake in KeyCorp (NYSE:KEY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 618,367 shares of the financial services provider’s stock, valued at approximately $10,772,000. Y Intercept Hong Kong Ltd owned about 0.06% of KeyCorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Whipplewood Advisors LLC increased its position in shares of KeyCorp by 6,927.0% in the second quarter. Whipplewood Advisors LLC now owns 2,600 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 2,563 shares during the last quarter. MQS Management LLC acquired a new position in shares of KeyCorp during the 2nd quarter worth approximately $258,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of KeyCorp by 1.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,106,950 shares of the financial services provider’s stock worth $36,703,000 after purchasing an additional 23,144 shares during the last quarter. Carnegie Investment Counsel increased its position in shares of KeyCorp by 56.0% during the 2nd quarter. Carnegie Investment Counsel now owns 30,934 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 11,100 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new position in shares of KeyCorp during the 2nd quarter worth approximately $223,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Up 1.8%

Shares of KEY opened at $17.83 on Monday. KeyCorp has a 52 week low of $12.73 and a 52 week high of $20.04. The firm has a market cap of $19.55 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. The firm’s 50-day simple moving average is $18.52 and its 200 day simple moving average is $17.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business posted ($0.47) earnings per share. The business’s revenue for the quarter was up 172.7% compared to the same quarter last year. On average, analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

Insider Activity at KeyCorp

In other 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 value of $867,143.37. Following the transaction, the insider owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KEY. UBS Group boosted their target price on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. boosted their price objective on shares of KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, Jefferies Financial Group lowered their price target on KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.75.

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.