DekaBank Deutsche Girozentrale Sells 39,972 Shares of KeyCorp (NYSE:KEY)

DekaBank Deutsche Girozentrale cut its holdings in shares of KeyCorp (NYSE:KEY) by 15.5% during the 4th quarter, Holdings Channel reports. The firm owned 217,722 shares of the financial services provider’s stock after selling 39,972 shares during the period. DekaBank Deutsche Girozentrale’s holdings in KeyCorp were worth $3,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of KeyCorp by 2.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 540 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of KeyCorp by 2.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 584 shares during the period. BOKF NA increased its holdings in shares of KeyCorp by 3.4% during the fourth quarter. BOKF NA now owns 20,170 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 665 shares during the period. Cetera Investment Advisers boosted its position in shares of KeyCorp by 4.1% during the 1st quarter. Cetera Investment Advisers now owns 18,427 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 720 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its position in shares of KeyCorp by 6.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 732 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of KeyCorp from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Wells Fargo & Company raised their target price on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Jefferies Financial Group raised their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group raised their target price on shares of KeyCorp from $13.50 to $15.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Finally, Piper Sandler raised their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $15.53.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction on Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,795 shares in the company, valued at $277,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the transaction, the director now owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $14.62 on Friday. KeyCorp has a twelve month low of $8.53 and a twelve month high of $15.86. The firm has a fifty day simple moving average of $14.64 and a 200 day simple moving average of $13.25. The company has a market capitalization of $13.56 billion, a PE ratio of 16.43 and a beta of 1.29. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, sell-side analysts forecast that KeyCorp will post 1.18 EPS 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.