RIA Advisory Group LLC Purchases New Stake in KeyCorp (NYSE:KEY)

RIA Advisory Group LLC purchased a new stake in shares of KeyCorp (NYSE:KEY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,203 shares of the financial services provider’s stock, valued at approximately $89,000.

Several other large investors have also recently bought and sold shares of KEY. Bruce G. Allen Investments LLC acquired a new position in KeyCorp during the fourth quarter valued at $26,000. Sound Income Strategies LLC increased its position in KeyCorp by 3,600.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new position in KeyCorp in the 3rd quarter worth about $28,000. Baldwin Brothers LLC MA acquired a new position in KeyCorp in the 4th quarter worth about $35,000. Finally, Point72 Asset Management L.P. acquired a new position in KeyCorp in the 2nd quarter worth about $37,000. 79.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at KeyCorp

In other news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Douglas M. Schosser sold 3,326 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the sale, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at $277,130. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the topic of several research reports. Wells Fargo & Company upped their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Piper Sandler upped their target price on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Royal Bank of Canada upped their target price on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays decreased their price target on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, January 19th. Finally, Argus upped their price target on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Price Performance

Shares of KEY stock opened at $14.63 on Friday. The stock has a 50 day moving average of $14.69 and a two-hundred day moving average of $13.38. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.72. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86. The company has a market capitalization of $13.57 billion, a P/E ratio of 18.52 and a beta of 1.29.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business posted $0.44 EPS. KeyCorp’s revenue was down 10.6% compared to the same quarter last year. As a group, equities analysts expect that KeyCorp will post 1.17 EPS for the current year.

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.