The Goldman Sachs Group Has Lowered Expectations for KeyCorp (NYSE:KEY) Stock Price

KeyCorp (NYSE:KEY) had its target price dropped by analysts at The Goldman Sachs Group from $26.00 to $25.00 in a research note issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 21.31% from the stock’s current price.

A number of other analysts have also recently weighed in on KEY. Evercore decreased their target price on shares of KeyCorp from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday. Weiss Ratings raised shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a report on Wednesday, December 31st. Keefe, Bruyette & Woods lifted their price target on shares of KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Finally, Argus lifted their price target on shares of KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.61.

KeyCorp Stock Performance

NYSE KEY opened at $20.61 on Monday. The firm’s fifty day moving average price is $20.81 and its two-hundred day moving average price is $19.76. The stock has a market cap of $22.11 billion, a PE ratio of 13.56, a PEG ratio of 0.66 and a beta of 1.07. KeyCorp has a fifty-two week low of $12.80 and a fifty-two week high of $23.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.83.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $5.45 billion for the quarter, compared to analysts’ expectations of $1.95 billion. KeyCorp had a net margin of 15.97% and a return on equity of 10.28%. The company’s revenue was up 131.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, equities analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 65,961 shares of KeyCorp stock in a transaction on Friday, February 6th. The shares were sold at an average price of $23.23, for a total value of $1,532,274.03. Following the completion of the sale, the insider directly owned 166,583 shares of the company’s stock, valued at approximately $3,869,723.09. The trade was a 28.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $21.55, for a total transaction of $1,354,417.50. Following the completion of the sale, the insider directly owned 261,415 shares of the company’s stock, valued at approximately $5,633,493.25. This trade represents a 19.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 161,506 shares of company stock valued at $3,597,481. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its stake in KeyCorp by 1.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 229,568 shares of the financial services provider’s stock valued at $4,738,000 after purchasing an additional 4,266 shares in the last quarter. World Investment Advisors increased its stake in KeyCorp by 55.5% in the fourth quarter. World Investment Advisors now owns 22,381 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 7,987 shares in the last quarter. Demming Financial Services Corp ADV bought a new stake in KeyCorp in the fourth quarter valued at $971,000. Tempo Wealth LLC bought a new stake in KeyCorp in the fourth quarter valued at $470,000. Finally, Virtu Financial LLC bought a new stake in KeyCorp in the fourth quarter valued at $789,000. 79.69% of the stock is owned by institutional investors.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.