Ethic Inc. Sells 5,169 Shares of KeyCorp (NYSE:KEY)

Ethic Inc. reduced its position in shares of KeyCorp (NYSE:KEY) by 2.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 218,865 shares of the financial services provider’s stock after selling 5,169 shares during the period. Ethic Inc.’s holdings in KeyCorp were worth $3,751,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. TCTC Holdings LLC boosted its stake in shares of KeyCorp by 38.6% during the 4th quarter. TCTC Holdings LLC now owns 2,195 shares of the financial services provider’s stock worth $38,000 after buying an additional 611 shares during the last quarter. Signaturefd LLC increased its holdings in shares of KeyCorp by 16.0% during the 4th quarter. Signaturefd LLC now owns 4,453 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 614 shares during the last quarter. Modera Wealth Management LLC increased its holdings in shares of KeyCorp by 3.9% in the fourth quarter. Modera Wealth Management LLC now owns 16,521 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 627 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in KeyCorp by 2.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 24,679 shares of the financial services provider’s stock valued at $423,000 after acquiring an additional 631 shares during the period. Finally, Ballentine Partners LLC increased its stake in shares of KeyCorp by 5.7% during the fourth quarter. Ballentine Partners LLC now owns 12,855 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 692 shares during the period. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KEY shares. Truist Financial dropped their price objective on shares of KeyCorp from $18.00 to $16.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Barclays decreased their price target on shares of KeyCorp from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Wells Fargo & Company reiterated an “overweight” rating on shares of KeyCorp in a research report on Thursday, April 17th. Baird R W upgraded shares of KeyCorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods reduced their target price on KeyCorp from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, April 21st. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.97.

KeyCorp Stock Performance

KEY opened at $15.48 on Friday. The company has a market cap of $16.97 billion, a price-to-earnings ratio of -51.60, a PEG ratio of 0.65 and a beta of 1.08. The company’s fifty day moving average price is $15.06 and its two-hundred day moving average price is $16.92. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. KeyCorp had a negative net margin of 2.52% and a positive return on equity of 8.73%. During the same quarter last year, the firm earned $0.20 EPS. On average, analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

KeyCorp declared that its board has authorized a stock buyback program on Thursday, March 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Mohit Ramani purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average cost of $13.75 per share, for a total transaction of $137,500.00. Following the completion of the acquisition, the insider now owns 10,000 shares in the company, valued at $137,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Company 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.