Russell Investments Group Ltd. Reduces Holdings in KeyCorp (NYSE:KEY)

Russell Investments Group Ltd. lowered its position in KeyCorp (NYSE:KEY) by 5.1% during the 4th quarter, HoldingsChannel reports. The fund owned 973,276 shares of the financial services provider’s stock after selling 52,239 shares during the period. Russell Investments Group Ltd.’s holdings in KeyCorp were worth $14,016,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC boosted its position in shares of KeyCorp by 6.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock valued at $178,000 after buying an additional 732 shares during the period. UMB Bank n.a. increased its stake in KeyCorp by 2.5% in the fourth quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 841 shares during the period. PL Capital Advisors LLC lifted its position in shares of KeyCorp by 1.7% during the third quarter. PL Capital Advisors LLC now owns 54,900 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 900 shares during the last quarter. AHL Investment Management Inc. boosted its stake in shares of KeyCorp by 1.8% during the fourth quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 900 shares during the period. Finally, Global Retirement Partners LLC boosted its stake in shares of KeyCorp by 15.8% during the fourth quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 901 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 0.4 %

NYSE KEY opened at $14.93 on Friday. KeyCorp has a 52 week low of $8.53 and a 52 week high of $15.86. The company has a 50 day moving average price of $14.80 and a 200 day moving average price of $13.65. 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 cap of $13.84 billion, a PE ratio of 18.89 and a beta of 1.28.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data 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). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Douglas M. Schosser sold 3,326 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the sale, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at approximately $277,130. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,442 shares of company stock valued at $303,914. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KEY has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. DA Davidson lowered their price target on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, January 19th. Piper Sandler raised their price objective on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. JPMorgan Chase & Co. upped their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Evercore ISI increased their price target on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

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.