Jefferies Financial Group Lowers KeyCorp (NYSE:KEY) Price Target to $20.00

KeyCorp (NYSE:KEY) had its price objective decreased by equities researchers at Jefferies Financial Group from $21.00 to $20.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 6.41% from the stock’s previous close.

Several other analysts have also issued reports on the stock. DA Davidson boosted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Citigroup reiterated a “neutral” rating and set a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Wells Fargo & Company upped their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. UBS Group raised KeyCorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $16.00 to $22.00 in a report on Tuesday, July 8th. Finally, Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Wednesday, July 2nd. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.58.

KeyCorp Stock Up 0.1%

KeyCorp stock opened at $18.80 on Wednesday. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The stock has a fifty day moving average of $18.57 and a 200 day moving average of $16.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $20.61 billion, a PE ratio of -268.50, a price-to-earnings-growth ratio of 0.66 and a beta of 1.15.

KeyCorp (NYSE:KEY) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. As a group, sell-side analysts predict that KeyCorp will post 1.5 EPS for the current year.

Insider Transactions at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider directly owned 245,044 shares of the company’s stock, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher M. Gorman sold 112,149 shares of the company’s stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the sale, the chief executive officer owned 619,895 shares in the company, valued at approximately $11,691,219.70. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,102 shares of company stock worth $3,299,664 in the last three months. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On KeyCorp

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in KeyCorp by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock worth $814,756,000 after buying an additional 14,651,281 shares during the last quarter. Norges Bank purchased a new stake in shares of KeyCorp in the second quarter valued at $195,642,000. Vanguard Group Inc. lifted its holdings in shares of KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock worth $2,004,273,000 after acquiring an additional 8,412,625 shares during the last quarter. HoldCo Asset Management LP purchased a new position in shares of KeyCorp during the 2nd quarter worth about $86,995,000. Finally, Wellington Management Group LLP grew its holdings in KeyCorp by 1,142.4% during the 1st quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider’s stock valued at $79,978,000 after purchasing an additional 4,599,197 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

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.