Alaska Permanent Fund Corp Sells 6,805 Shares of KeyCorp (NYSE:KEY)

Alaska Permanent Fund Corp decreased its holdings in shares of KeyCorp (NYSE:KEY) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 211,495 shares of the financial services provider’s stock after selling 6,805 shares during the period. Alaska Permanent Fund Corp’s holdings in KeyCorp were worth $3,046,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd raised its position in KeyCorp by 15,192.5% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 8,105 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 8,052 shares in the last quarter. GAMMA Investing LLC purchased a new stake in KeyCorp during the fourth quarter valued at about $184,000. Criterion Capital Advisors LLC purchased a new stake in KeyCorp during the fourth quarter valued at about $39,000. abrdn plc raised its position in KeyCorp by 70.1% during the fourth quarter. abrdn plc now owns 390,946 shares of the financial services provider’s stock valued at $5,630,000 after purchasing an additional 161,059 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in KeyCorp during the fourth quarter valued at about $89,000. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In other news, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Douglas M. Schosser sold 3,326 shares of the business’s 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 sale, 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 accessible through the SEC website. Also, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the sale, the director now directly owns 81,622 shares in the company, valued at $1,161,481.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,442 shares of company stock valued at $303,914. 0.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on KEY. Wells Fargo & Company lifted their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Barclays decreased their price objective on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, January 19th. DA Davidson decreased their price objective on KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Piper Sandler lifted their price objective on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Finally, Morgan Stanley lifted their price objective on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.71.

KeyCorp Stock Up 1.4 %

KeyCorp stock traded up $0.21 during trading hours on Wednesday, hitting $14.93. 15,081,401 shares of the stock traded hands, compared to its average volume of 16,474,930. The firm’s 50-day moving average price is $14.72 and its two-hundred day moving average price is $13.49. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The company has a market cap of $13.85 billion, a PE ratio of 18.90 and a beta of 1.29. KeyCorp has a one year low of $8.53 and a one year high of $15.86.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, research analysts forecast that KeyCorp will post 1.15 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.