Choreo LLC Decreases Stock Position in KeyCorp $KEY

Choreo LLC cut its stake in KeyCorp (NYSE:KEY) by 38.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,798 shares of the financial services provider’s stock after selling 32,300 shares during the period. Choreo LLC’s holdings in KeyCorp were worth $1,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brighton Jones LLC purchased a new position in KeyCorp in the fourth quarter worth approximately $476,000. Woodline Partners LP lifted its stake in KeyCorp by 41.4% in the first quarter. Woodline Partners LP now owns 84,156 shares of the financial services provider’s stock worth $1,346,000 after acquiring an additional 24,627 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in KeyCorp by 58.0% in the second quarter. EverSource Wealth Advisors LLC now owns 5,148 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 1,890 shares during the last quarter. Cresset Asset Management LLC lifted its stake in KeyCorp by 6.5% in the second quarter. Cresset Asset Management LLC now owns 15,097 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 926 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new position in KeyCorp in the second quarter worth approximately $186,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 62,850 shares of the business’s stock in a transaction that occurred 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 owned 261,415 shares in the company, valued at approximately $5,633,493.25. The trade was a 19.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew J. Paine III sold 65,961 shares of the business’s stock in a transaction dated 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 $3,869,723.09. The trade was a 28.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 161,506 shares of company stock worth $3,597,481. 0.56% of the stock is currently owned by insiders.

KeyCorp Stock Down 0.3%

Shares of NYSE:KEY opened at $21.57 on Thursday. The company has a market capitalization of $23.14 billion, a PE ratio of 14.19, a P/E/G ratio of 0.71 and a beta of 1.07. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.55. KeyCorp has a twelve month low of $13.68 and a twelve month high of $23.34. The firm has a 50 day simple moving average of $20.77 and a 200-day simple moving average of $19.87.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, equities analysts predict that KeyCorp will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KEY shares. Weiss Ratings upgraded shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Truist Financial decreased their price target on shares of KeyCorp from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Monday, March 23rd. Argus lifted their price target on KeyCorp from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of KeyCorp in a report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their price target on KeyCorp from $21.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.61.

Key KeyCorp News

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: Analysts expect loan growth, rising fee income and stronger trading/IB activity to help Q1 results and support NII, which could lift revenue and EPS if realized. Loan Growth, Fee Income Strength Likely to Aid KeyCorp’s Q1 Earnings
• Positive Sentiment: KeyBank is rolling out virtual commercial card issuing to compete with fintechs — a product push that can deepen corporate client relationships and fee revenue over time. KeyBank adds virtual commerce cards to ward off fintechs
• Positive Sentiment: New homebuyer support programs and consumer education from KeyBank may boost deposits and cross-sell opportunities in mortgage-adjacent segments, aiding long-term growth and investor sentiment. KeyCorp Homebuyer Support Efforts Meet Investor Focus On Valuation And Growth
• Neutral Sentiment: Street coverage is modestly positive: KeyCorp carries an average analyst recommendation of “Moderate Buy,” which could limit downside but also caps surprise upside absent a strong beat. KeyCorp (NYSE:KEY) Given Average Recommendation of “Moderate Buy” by Analysts
• Neutral Sentiment: KeyCorp reports Q1 this week; previews highlight NII, loan growth, trading/IB fees and mortgage weakness as key metrics to watch — the print will be the primary near-term catalyst. KeyCorp (KEY) Q1 Earnings Report Preview: What To Look For
• Negative Sentiment: Investors and analysts are scrutinizing Q1 loan growth for sustainability and credit quality; any sign of weaker-than-expected loan origination or higher provisions would likely pressure the stock. All eyes on KeyCorp earnings as Q1 loan growth faces scrutiny
• Negative Sentiment: Recent beats from peers (M&T, Bank of America) set a high bar; sector outperformance by peers can weigh on KeyCorp if its results or guidance disappoint. M&T Bank Corporation (MTB) Q1 Earnings and Revenues Surpass Estimates BAC Stock Gains as Q1 Earnings Beat on NII, Trading & IB Strength
• Negative Sentiment: Mortgage weakness and rising expenses flagged across regional banks could limit upside to revenue and margins for KeyCorp if those trends continue. Rise in Fee Income to Aid RF’s Q1 Earnings, Lower NII to Ail

KeyCorp Company Profile

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.