KeyCorp (NYSE:KEY) Position Lowered by Royal Fund Management LLC

Royal Fund Management LLC decreased its stake in shares of KeyCorp (NYSE:KEY) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,600 shares of the financial services provider’s stock after selling 2,800 shares during the period. Royal Fund Management LLC’s holdings in KeyCorp were worth $311,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Fuller & Thaler Asset Management Inc. lifted its holdings in KeyCorp by 3.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 32,342,547 shares of the financial services provider’s stock worth $348,006,000 after acquiring an additional 993,215 shares during the last quarter. FMR LLC lifted its holdings in KeyCorp by 14.4% in the third quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock worth $341,969,000 after acquiring an additional 3,992,226 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in KeyCorp in the third quarter worth about $274,773,000. Charles Schwab Investment Management Inc. lifted its holdings in KeyCorp by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock worth $248,844,000 after acquiring an additional 3,216,584 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in KeyCorp by 8.8% in the third quarter. Northern Trust Corp now owns 10,845,886 shares of the financial services provider’s stock worth $116,702,000 after acquiring an additional 880,139 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on KEY. Wedbush dropped their price target on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Barclays dropped their price target on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, January 19th. Raymond James began coverage on shares of KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating on the stock. Morgan Stanley raised their price target on shares of KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Piper Sandler raised their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

Insiders Place Their Bets

In other news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares in the company, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last quarter. Insiders own 0.61% of the company’s stock.

KeyCorp Stock Up 0.4 %

Shares of KeyCorp stock traded up $0.06 during midday trading on Friday, hitting $14.93. The company’s stock had a trading volume of 9,274,415 shares, compared to its average volume of 15,435,352. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $13.85 billion, a P/E ratio of 18.90 and a beta of 1.28. The stock has a 50-day simple moving average of $14.80 and a 200-day simple moving average of $13.65.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. As a group, sell-side analysts expect that KeyCorp will post 1.15 earnings per share for the current year.

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.