Meeder Asset Management Inc. Decreases Holdings in KeyCorp (KEY)

Meeder Asset Management Inc. lowered its position in KeyCorp (NYSE:KEY) by 42.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 162,356 shares of the financial services provider’s stock after selling 121,567 shares during the period. Meeder Asset Management Inc.’s holdings in KeyCorp were worth $2,557,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bruderman Asset Management LLC purchased a new position in KeyCorp in the 4th quarter valued at $26,000. First Interstate Bank lifted its holdings in KeyCorp by 853.0% in the 4th quarter. First Interstate Bank now owns 2,049 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,834 shares in the last quarter. Executive Wealth Management LLC purchased a new position in KeyCorp in the 4th quarter valued at $36,000. Lindbrook Capital LLC purchased a new position in KeyCorp in the 4th quarter valued at $41,000. Finally, Doyle Wealth Management purchased a new position in KeyCorp in the 4th quarter valued at $42,000. Institutional investors own 82.52% of the company’s stock.

Several research firms have recently commented on KEY. ValuEngine lowered KeyCorp from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. CIBC reiterated an “average” rating on shares of KeyCorp in a report on Monday, February 4th. Scotiabank reiterated a “buy” rating and set a $36.00 price target on shares of KeyCorp in a report on Friday, February 22nd. Wedbush lowered KeyCorp from an “outperform” rating to a “neutral” rating and set a $16.63 price target on the stock. in a report on Monday, February 4th. They noted that the move was a valuation call. Finally, Sandler O’Neill upgraded KeyCorp from a “hold” rating to a “buy” rating and lifted their price target for the stock from $16.50 to $19.00 in a report on Friday, January 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. KeyCorp currently has an average rating of “Hold” and a consensus price target of $22.46.

In related news, insider Robert A. Deangelis sold 31,166 shares of the business’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $17.37, for a total value of $541,353.42. Following the sale, the insider now directly owns 196,478 shares in the company, valued at approximately $3,412,822.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 4,162 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $17.33, for a total transaction of $72,127.46. Following the completion of the sale, the insider now owns 128,464 shares in the company, valued at $2,226,281.12. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

NYSE KEY opened at $16.98 on Wednesday. The firm has a market cap of $16.69 billion, a PE ratio of 9.82, a P/E/G ratio of 1.16 and a beta of 1.20. KeyCorp has a 52 week low of $13.65 and a 52 week high of $21.91. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.88 and a current ratio of 0.89.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, January 17th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. KeyCorp had a net margin of 24.74% and a return on equity of 13.26%. During the same period in the previous year, the firm earned $0.33 EPS. Sell-side analysts expect that KeyCorp will post 1.84 earnings per share for the current fiscal year.

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About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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