Perigon Wealth Management LLC Cuts Stock Position in KeyCorp (NYSE:KEY)

Perigon Wealth Management LLC lessened its stake in shares of KeyCorp (NYSE:KEY) by 24.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,051 shares of the financial services provider’s stock after selling 4,151 shares during the period. Perigon Wealth Management LLC’s holdings in KeyCorp were worth $188,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC bought a new position in shares of KeyCorp during the fourth quarter valued at $26,000. Sound Income Strategies LLC raised its holdings in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in KeyCorp in the third quarter worth about $28,000. Baldwin Brothers LLC MA bought a new position in shares of KeyCorp in the fourth quarter worth approximately $35,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of KeyCorp during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KEY shares. Wedbush decreased their price objective on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Royal Bank of Canada increased their price objective on KeyCorp from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley boosted their target price on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. 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 report on Friday, January 19th. Finally, Piper Sandler boosted their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.53.

Insider Transactions at KeyCorp

In related news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the transaction, the director now directly owns 81,622 shares in the company, valued at approximately $1,161,481.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now owns 98,120 shares in the company, valued at approximately $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 over the last three months. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Stock Up 1.5 %

NYSE KEY opened at $14.43 on Thursday. KeyCorp has a 52 week low of $8.53 and a 52 week high of $15.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $13.38 billion, a P/E ratio of 16.21 and a beta of 1.29. The stock’s 50-day moving average price is $14.66 and its 200-day moving average price is $13.35.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, January 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. During the same quarter last year, the business earned $0.38 EPS. On average, equities research analysts predict that KeyCorp will post 1.17 earnings per share for the current year.

KeyCorp Profile

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.