Generali Asset Management SPA SGR Sells 1,000 Shares of KeyCorp $KEY

Generali Asset Management SPA SGR lowered its position in KeyCorp (NYSE:KEY) by 16.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,179 shares of the financial services provider’s stock after selling 1,000 shares during the period. Generali Asset Management SPA SGR’s holdings in KeyCorp were worth $90,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its holdings in KeyCorp by 4.8% in the first quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock worth $1,101,000 after acquiring an additional 3,145 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of KeyCorp in the first quarter worth approximately $2,171,000. Signal Advisors Wealth LLC purchased a new stake in shares of KeyCorp in the second quarter worth approximately $431,000. Gradient Investments LLC purchased a new stake in shares of KeyCorp in the second quarter worth approximately $1,973,000. Finally, AQR Capital Management LLC raised its stake in shares of KeyCorp by 5.1% in the first quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock worth $6,495,000 after purchasing an additional 20,429 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY opened at $16.96 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 0.54 and a beta of 1.15. The stock has a 50 day moving average of $18.56 and a 200 day moving average of $17.07. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.KeyCorp’s revenue was up 172.7% on a year-over-year basis. During the same period last year, the business posted ($0.47) earnings per share. As a group, sell-side analysts forecast that KeyCorp will post 1.5 earnings per share for the current year.

Insiders Place Their Bets

In other KeyCorp news, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Trina M. Evans sold 17,000 shares of the firm’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total value of $317,390.00. Following the completion of the sale, the director directly owned 82,719 shares of the company’s stock, valued at $1,544,363.73. This represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock valued at $3,299,664 over the last ninety days. 0.52% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on KEY shares. Evercore ISI increased their price objective on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. TD Cowen increased their price objective on KeyCorp from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, October 3rd. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price objective on KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, DA Davidson lowered their price objective on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.86.

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.