Fulcrum Asset Management LLP Buys New Shares in KeyCorp $KEY

Fulcrum Asset Management LLP bought a new position in shares of KeyCorp (NYSE:KEY) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 97,987 shares of the financial services provider’s stock, valued at approximately $1,971,000.

A number of other hedge funds have also bought and sold shares of the stock. N.E.W. Advisory Services LLC purchased a new position in KeyCorp in the 2nd quarter worth $30,000. Silvant Capital Management LLC purchased a new position in KeyCorp during the second quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. purchased a new position in KeyCorp during the second quarter valued at approximately $31,000. GK Wealth Management LLC purchased a new position in KeyCorp during the third quarter valued at approximately $30,000. Finally, Trust Co. of Vermont acquired a new position in KeyCorp in the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Trading Down 0.3%

KEY stock opened at $21.36 on Wednesday. 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 firm has a market cap of $22.55 billion, a P/E ratio of 11.89, a PEG ratio of 0.76 and a beta of 1.07. The company’s 50-day simple moving average is $20.85 and its 200-day simple moving average is $21.54.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. KeyCorp’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. As a group, equities analysts forecast that KeyCorp will post 1.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Evercore restated an “outperform” rating and issued a $24.00 price objective on shares of KeyCorp in a research report on Thursday, October 1st. Wall Street Zen raised shares of KeyCorp from a “sell” rating to a “hold” rating in a report on Sunday, October 25th. Weiss Ratings raised shares of KeyCorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, November 4th. TD Cowen began coverage on shares of KeyCorp in a research note on Thursday, October 8th. They issued a “buy” rating and a $23.00 target price for the company. Finally, Royal Bank Of Canada decreased their target price on shares of 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 issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.25.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Andrew Paine, III sold 39,130 shares of the stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $21.20, for a total transaction of $829,556.00. Following 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, and the parent of KeyBank National Association. KeyBank traces its history to 1825 and serves consumers, businesses, and institutions through banking and financial services. The company’s offerings include consumer and small-business banking, commercial lending, treasury and payment services, investment banking, and wealth management. Its commercial and investment banking services are also available to clients beyond its retail branch footprint.