Strs Ohio Raises Holdings in KeyCorp $KEY

Strs Ohio lifted its holdings in shares of KeyCorp (NYSE:KEY) by 32.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,353 shares of the financial services provider’s stock after buying an additional 28,888 shares during the period. Strs Ohio’s holdings in KeyCorp were worth $2,062,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Dakota Wealth Management raised its position in KeyCorp by 2.2% in the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after acquiring an additional 586 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in shares of KeyCorp by 2.9% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 639 shares in the last quarter. AlphaCore Capital LLC lifted its stake in shares of KeyCorp by 5.2% in the first quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 651 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of KeyCorp by 34.0% in the first quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 671 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of KeyCorp by 0.4% in the second quarter. Amalgamated Bank now owns 187,940 shares of the financial services provider’s stock valued at $3,274,000 after purchasing an additional 683 shares during the period. 79.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Royal Bank Of Canada raised their price objective on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. raised their price objective on KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $20.50 to $21.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of KeyCorp in a research report on Friday, October 31st. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.75.

KeyCorp Stock Performance

KeyCorp stock opened at $17.31 on Wednesday. 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 stock has a fifty day moving average of $18.37 and a two-hundred day moving average of $17.42. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 0.52 and a beta of 1.15. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04.

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

Insider Buying and Selling

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

KeyCorp 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.