Blue Trust Inc. Acquires 3,277 Shares of KeyCorp $KEY

Blue Trust Inc. increased its holdings in shares of KeyCorp (NYSE:KEY) by 15.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,063 shares of the financial services provider’s stock after purchasing an additional 3,277 shares during the period. Blue Trust Inc.’s holdings in KeyCorp were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KEY. Price T Rowe Associates Inc. MD lifted its stake in KeyCorp by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after buying an additional 14,651,281 shares in the last quarter. Vanguard Group Inc. lifted its position in KeyCorp by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock valued at $2,004,273,000 after acquiring an additional 8,412,625 shares in the last quarter. Wellington Management Group LLP lifted its position in KeyCorp by 1,142.4% in the 1st quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider’s stock valued at $79,978,000 after acquiring an additional 4,599,197 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in KeyCorp in the 1st quarter valued at $60,194,000. Finally, Invesco Ltd. lifted its holdings in shares of KeyCorp by 19.5% in the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock valued at $329,777,000 after purchasing an additional 3,363,421 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on KEY shares. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada boosted their target price on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Citigroup reissued a “neutral” rating and issued a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a research report on Thursday, July 24th. TD Cowen boosted their price objective on shares of KeyCorp from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Finally, Evercore ISI boosted their price target on shares of KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $20.86.

KeyCorp Stock Up 2.2%

Shares of KEY stock opened at $17.58 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.83 and a current ratio of 0.84. The firm’s 50-day moving average is $18.57 and its 200-day moving average is $17.04. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of -251.09, a PEG ratio of 0.55 and a beta of 1.15. KeyCorp has a 52-week low of $12.73 and a 52-week high of $20.04.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. Sell-side analysts predict that KeyCorp will post 1.5 EPS for the current year.

Insider Activity at KeyCorp

In other news, CEO Christopher M. Gorman sold 112,149 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total value of $2,115,130.14. Following the transaction, the chief executive officer directly owned 619,895 shares of the company’s stock, valued at $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 174,102 shares of company stock worth $3,299,664. Company 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.