International Assets Investment Management LLC Takes Position in KeyCorp $KEY

International Assets Investment Management LLC acquired a new position in shares of KeyCorp (NYSE:KEY) in the second quarter, HoldingsChannel.com reports. The firm acquired 92,011 shares of the financial services provider’s stock, valued at approximately $1,603,000.

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

Insider Activity

In other news, Director Trina M. Evans sold 17,000 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Andrew J. Paine III sold 44,953 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider directly owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. This represents a 15.50% 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 over the last three months. Insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Truist Financial lowered their price objective on KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Friday. UBS Group boosted their price target on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company boosted their price target on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. boosted their price target on KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, DA Davidson reduced their price target on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Friday. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.75.

KeyCorp Trading Up 1.1%

Shares of KeyCorp stock opened at $16.96 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market cap of $18.60 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. The business has a fifty day simple moving average of $18.56 and a 200-day simple moving average of $17.09. KeyCorp has a fifty-two week low of $12.73 and a fifty-two week high of $20.04.

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

KeyCorp 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.