Brookstone Capital Management Grows Stock Holdings in KeyCorp $KEY

Brookstone Capital Management boosted its holdings in KeyCorp (NYSE:KEY) by 35.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,908 shares of the financial services provider’s stock after buying an additional 4,182 shares during the period. Brookstone Capital Management’s holdings in KeyCorp were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of KEY. Price T Rowe Associates Inc. MD grew its stake in KeyCorp by 40.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after buying an additional 14,651,281 shares in the last quarter. Vanguard Group Inc. grew its stake in KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock valued at $2,004,273,000 after buying an additional 8,412,625 shares in the last quarter. Wellington Management Group LLP grew its stake in KeyCorp by 1,142.4% in 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 buying an additional 4,599,197 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in KeyCorp in the 1st quarter valued at approximately $60,194,000. Finally, Invesco Ltd. grew its stake in KeyCorp by 19.5% in the 1st quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock valued at $329,777,000 after buying an additional 3,363,421 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the sale, the insider directly owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $17.59 on Wednesday. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $19.28 billion, a P/E ratio of 21.71, a P/E/G ratio of 0.53 and a beta of 1.15. The company has a fifty day moving average of $18.49 and a 200-day moving average of $17.28.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted ($0.47) EPS. The firm’s revenue was up 172.7% compared to the same quarter last year. As a group, equities research analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of KeyCorp from $20.00 to $24.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Wednesday, July 2nd. Wells Fargo & Company raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, October 3rd. UBS Group raised their price target on shares of KeyCorp from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Finally, TD Cowen raised their price target on shares of KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a report on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.75.

KeyCorp 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.