Cutter & CO Brokerage Inc. Sells 3,924 Shares of KeyCorp (NYSE:KEY)

Cutter & CO Brokerage Inc. lowered its holdings in shares of KeyCorp (NYSE:KEY) by 19.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,045 shares of the financial services provider’s stock after selling 3,924 shares during the period. Cutter & CO Brokerage Inc.’s holdings in KeyCorp were worth $231,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC acquired a new position in shares of KeyCorp during the fourth quarter worth approximately $26,000. Sound Income Strategies LLC grew 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 valued at $27,000 after purchasing an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in KeyCorp in the 3rd quarter valued at $28,000. Baldwin Brothers LLC MA acquired a new stake in KeyCorp in the 4th quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV grew its position in KeyCorp by 195.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,763 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the sale, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the transaction, the insider now directly owns 214,630 shares in the company, valued at $3,056,331.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now owns 98,120 shares in the company, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 over the last three months. 0.67% of the stock is owned by corporate insiders.

KeyCorp Price Performance

Shares of KeyCorp stock traded up $0.11 on Wednesday, reaching $14.83. The stock had a trading volume of 9,822,594 shares, compared to its average volume of 16,400,326. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86. The company has a market cap of $13.75 billion, a P/E ratio of 18.72 and a beta of 1.29. 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 business’s 50 day moving average is $14.72 and its two-hundred day moving average is $13.49.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). 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 analysts’ expectations of $1.51 billion. During the same period in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. As a group, research analysts anticipate that KeyCorp will post 1.15 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Wedbush cut their price objective on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Raymond James assumed coverage on shares of KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating for the company. Barclays reduced their target price on shares of 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, Royal Bank of Canada upped their target price on shares of KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.71.

About KeyCorp

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.