Allspring Global Investments Holdings LLC Sells 1,635 Shares of KeyCorp (NYSE:KEY)

Allspring Global Investments Holdings LLC reduced its stake in shares of KeyCorp (NYSE:KEY) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 62,894 shares of the financial services provider’s stock after selling 1,635 shares during the period. Allspring Global Investments Holdings LLC’s holdings in KeyCorp were worth $906,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC purchased a new position in shares of KeyCorp during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its stake in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in KeyCorp during the 3rd quarter worth $28,000. Baldwin Brothers LLC MA purchased a new position in KeyCorp during the 4th quarter worth $35,000. Finally, Creative Financial Designs Inc. ADV grew its stake in shares of KeyCorp by 195.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,763 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Insider Buying and Selling at KeyCorp

In other news, insider Angela G. Mago sold 3,405 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the sale, 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 this link. In other news, insider Angela G. Mago sold 3,405 shares of the business’s 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 completion of the transaction, the insider now directly owns 214,630 shares in the company, valued at approximately $3,056,331.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of 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 21,442 shares of company stock valued at $303,914 in the last quarter. 0.67% of the stock is currently owned by corporate insiders.

KeyCorp Stock Up 0.6 %

KeyCorp stock opened at $14.73 on Wednesday. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 18.64 and a beta of 1.29. The firm has a 50 day simple moving average of $14.72 and a 200 day simple moving average of $13.49. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $1.53 billion during 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%. KeyCorp’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. On average, analysts predict that KeyCorp will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KEY shares. Argus raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wells Fargo & Company lifted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Piper Sandler upped their target price on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, January 26th. Barclays decreased their price target on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods boosted their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Company 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.