Blair William & Co. IL Acquires 5,980 Shares of KeyCorp $KEY

Blair William & Co. IL boosted its holdings in shares of KeyCorp (NYSE:KEY) by 22.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,126 shares of the financial services provider’s stock after buying an additional 5,980 shares during the quarter. Blair William & Co. IL’s holdings in KeyCorp were worth $577,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in KEY. Dakota Wealth Management raised its stake in shares of KeyCorp by 2.2% in the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock valued at $477,000 after acquiring an additional 586 shares during the period. Investors Asset Management of Georgia Inc. GA ADV raised its stake in shares of KeyCorp by 2.9% in the second quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 639 shares during the period. AlphaCore Capital LLC raised its stake in shares of KeyCorp by 5.2% in the first quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 651 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of KeyCorp by 34.0% in the first quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 671 shares during the period. Finally, Greenleaf Trust raised its stake in shares of KeyCorp by 5.7% in the second quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 691 shares during the period. 79.69% of the stock is currently owned by institutional investors.

KeyCorp Trading Down 5.4%

KEY stock opened at $16.78 on Friday. The company has a market capitalization of $18.40 billion, a PE ratio of -239.71, a P/E/G ratio of 0.56 and a beta of 1.15. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04. The firm’s 50-day moving average is $18.57 and its 200 day moving average is $17.06. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the business earned ($0.47) EPS. The firm’s quarterly revenue was up 172.7% on a year-over-year basis. On average, research analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

Insiders Place Their Bets

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer directly owned 619,895 shares in the company, valued at $11,691,219.70. This represents a 15.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. The trade was a 15.50% 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. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KEY. Evercore ISI increased their target price on shares of KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. JPMorgan Chase & Co. increased their target price on shares of KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research note on Friday, October 10th. Jefferies Financial Group reduced their price target on shares of KeyCorp from $21.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.86.

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.