KeyCorp $KEY Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of KeyCorp (NYSE:KEY) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,872,261 shares of the financial services provider’s stock after selling 29,359 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in KeyCorp were worth $37,576,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of KeyCorp during the third quarter valued at approximately $4,654,000. Vise Technologies Inc. lifted 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 acquiring an additional 9,646 shares during the period. Investment Partners LTD. acquired a new position in KeyCorp during the 3rd quarter worth about $201,000. Soltis Investment Advisors LLC boosted its holdings in KeyCorp by 4.4% in the third quarter. Soltis Investment Advisors LLC now owns 13,382 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 570 shares during the last quarter. Finally, Shakespeare Wealth Management LLC bought a new stake in KeyCorp in the third quarter valued at about $364,000. 79.69% of the stock is currently owned by institutional investors.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Andrew Paine, III sold 39,130 shares of the stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $21.20, for a total value of $829,556.00. Following the completion of the transaction, the insider owned 191,571 shares in the company, valued at approximately $4,061,305.20. This represents a 16.96% 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. 0.56% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of KeyCorp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. DA Davidson upped their price objective on shares of KeyCorp from $26.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Evercore restated an “outperform” rating and set a $24.00 price objective on shares of KeyCorp in a research report on Thursday, October 1st. Wall Street Zen upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research note on Sunday, October 25th. Finally, Royal Bank Of Canada cut their price target on KeyCorp from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average price target of $46.25.

KeyCorp Price Performance

NYSE KEY opened at $21.55 on Thursday. KeyCorp has a 52 week low of $16.91 and a 52 week high of $24.07. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.72. The company has a market cap of $23.00 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 0.75 and a beta of 1.07. The firm’s 50-day simple moving average is $20.91 and its two-hundred day simple moving average is $21.55.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts predict that KeyCorp will post 1.88 earnings per share for the current year.

KeyCorp Company Profile

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.