KeyCorp (NYSE:KEY) Position Lifted by abrdn plc

abrdn plc raised its stake in shares of KeyCorp (NYSE:KEY) by 70.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,946 shares of the financial services provider’s stock after acquiring an additional 161,059 shares during the quarter. abrdn plc’s holdings in KeyCorp were worth $5,630,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in KEY. Ontario Teachers Pension Plan Board bought a new position in KeyCorp during the 3rd quarter valued at $274,773,000. Ceredex Value Advisors LLC bought a new position in shares of KeyCorp in the 4th quarter worth about $64,421,000. FMR LLC lifted its position in shares of KeyCorp by 14.4% in the 3rd quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock worth $341,969,000 after buying an additional 3,992,226 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of KeyCorp by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock worth $248,844,000 after buying an additional 3,216,584 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of KeyCorp by 844.4% in the 3rd quarter. AQR Capital Management LLC now owns 3,160,631 shares of the financial services provider’s stock worth $34,008,000 after buying an additional 2,825,977 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insider Transactions at KeyCorp

In other news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction that occurred on Monday, February 12th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 in the last quarter. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Argus raised their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Raymond James assumed coverage on shares of KeyCorp in a research report on Monday, January 8th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Wedbush dropped their price objective on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Stock Up 0.6 %

KeyCorp stock opened at $14.70 on Friday. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 18.61 and a beta of 1.29. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The company’s 50-day moving average price is $14.76 and its two-hundred day moving average price is $13.56. KeyCorp has a 52 week low of $8.53 and a 52 week high of $15.86.

KeyCorp (NYSE:KEY) last released its 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 analyst estimates of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. On average, analysts expect that KeyCorp will post 1.15 EPS for the current fiscal 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.