TD Asset Management Inc Has $6.26 Million Stock Holdings in KeyCorp $KEY

TD Asset Management Inc decreased its holdings in KeyCorp (NYSE:KEY) by 4.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 359,210 shares of the financial services provider’s stock after selling 16,185 shares during the period. TD Asset Management Inc’s holdings in KeyCorp were worth $6,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC raised its stake in KeyCorp by 4.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock worth $1,101,000 after purchasing an additional 3,145 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in KeyCorp in the 1st quarter worth about $2,171,000. Signal Advisors Wealth LLC acquired a new stake in KeyCorp in the 2nd quarter worth about $431,000. Gradient Investments LLC acquired a new stake in KeyCorp in the 2nd quarter worth about $1,973,000. Finally, AQR Capital Management LLC raised its stake in KeyCorp by 5.1% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Activity at KeyCorp

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

KeyCorp Trading Up 1.1%

Shares of KeyCorp stock opened at $16.96 on Monday. The firm has a market capitalization of $18.60 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.54 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. The firm’s 50 day moving average is $18.56 and its 200 day moving average is $17.09. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. The company 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 firm’s revenue was up 172.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.47) EPS. Equities research analysts forecast that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KEY. Citigroup reiterated a “neutral” rating and issued a $20.00 price objective (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of KeyCorp in a research report on Wednesday, October 8th. Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 2nd. Truist Financial dropped their target price on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a research report on Friday. Finally, Evercore ISI boosted their target price on shares of KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Ten 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.75.

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.