Wilmington Savings Fund Society FSB Acquires 4,123 Shares of KeyCorp $KEY

Wilmington Savings Fund Society FSB lifted its holdings in shares of KeyCorp (NYSE:KEY) by 17.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 28,151 shares of the financial services provider’s stock after purchasing an additional 4,123 shares during the period. Wilmington Savings Fund Society FSB’s holdings in KeyCorp were worth $490,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Morningstar Investment Management LLC grew its holdings in shares of KeyCorp by 17.3% during the 2nd quarter. Morningstar Investment Management LLC now owns 19,588 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 2,894 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of KeyCorp by 16.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 21,329 shares of the financial services provider’s stock valued at $372,000 after purchasing an additional 3,025 shares during the last quarter. Concord Wealth Partners grew its holdings in KeyCorp by 71.5% in the 2nd quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 910 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in KeyCorp by 17.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 80,542 shares of the financial services provider’s stock worth $1,403,000 after acquiring an additional 11,685 shares during the last quarter. Finally, MGO One Seven LLC grew its holdings in KeyCorp by 18.8% in the 2nd quarter. MGO One Seven LLC now owns 32,708 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 5,176 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In related news, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the completion of the transaction, the chief executive officer directly owned 619,895 shares of the company’s stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $18.67, for a total transaction of $317,390.00. Following the transaction, the director directly owned 82,719 shares of the company’s stock, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 174,102 shares of company stock valued at $3,299,664 in the last three months. Company insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KEY shares. DA Davidson cut their price target on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday. Truist Financial cut their price target on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Friday. Citigroup reissued a “neutral” rating and issued a $20.00 price target (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Morgan Stanley raised their price target on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.86.

KeyCorp Trading Up 1.1%

Shares of KEY opened at $16.96 on Friday. The firm’s 50-day moving average price is $18.56 and its 200-day moving average price is $17.07. The firm has a market capitalization of $18.60 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 0.53 and a beta of 1.15. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company’s revenue for the quarter was up 172.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.47) EPS. Sell-side analysts anticipate that KeyCorp will post 1.5 EPS for the current year.

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.