KeyCorp (NYSE:KEY) Stock: Insider Andrew Paine III Sells 39,130 Shares

KeyCorp (NYSE:KEY) insider Andrew Paine III sold 39,130 shares of the business’s stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total transaction of $829,556.00. Following the sale, the insider owned 191,571 shares of the company’s stock, valued at approximately $4,061,305.20. The trade was a 16.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

KeyCorp Stock Down 1.8%

Shares of NYSE:KEY opened at $21.11 on Friday. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.76 and a beta of 1.08. KeyCorp has a 1-year low of $16.91 and a 1-year high of $24.07. The company’s fifty day moving average is $20.94 and its two-hundred day moving average is $21.54. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the firm posted $0.41 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts anticipate that KeyCorp will post 1.88 EPS for the current year.

Hedge Funds Weigh In On KeyCorp

Institutional investors have recently modified their holdings of the company. Ascent Group LLC boosted its position in KeyCorp by 8.3% during the 3rd quarter. Ascent Group LLC now owns 58,751 shares of the financial services provider’s stock worth $1,179,000 after acquiring an additional 4,508 shares during the period. Rakuten Investment Management Inc. grew its stake in shares of KeyCorp by 8.9% in the third quarter. Rakuten Investment Management Inc. now owns 163,483 shares of the financial services provider’s stock worth $3,289,000 after purchasing an additional 13,311 shares in the last quarter. Next Level Wealth Planning LLC acquired a new position in shares of KeyCorp during the third quarter valued at $128,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of KeyCorp during the third quarter valued at $4,654,000. Finally, Vise Technologies Inc. increased its holdings in shares of KeyCorp by 32.6% during the third quarter. Vise Technologies Inc. now owns 39,240 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 9,646 shares during the period. Institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KEY. JPMorgan Chase & Co. raised their target price on shares of KeyCorp from $23.00 to $23.50 and gave the stock a “neutral” rating in a report on Friday. UBS Group decreased their target price on KeyCorp from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Robert W. Baird upped their target price on KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research report on Tuesday, September 22nd. Finally, TD Cowen initiated coverage on KeyCorp in a report on Thursday, October 8th. They issued a “buy” rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $46.25.

About KeyCorp

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.