KeyCorp (NYSE:KEY) Shares Sold by Connable Office Inc.

Connable Office Inc. lowered its stake in shares of KeyCorp (NYSE:KEY) by 6.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,503 shares of the financial services provider’s stock after selling 2,601 shares during the quarter. Connable Office Inc.’s holdings in KeyCorp were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bleakley Financial Group LLC grew its holdings in KeyCorp by 11.2% during the 1st quarter. Bleakley Financial Group LLC now owns 12,578 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 1,265 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in KeyCorp by 0.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 1,082,272 shares of the financial services provider’s stock valued at $17,111,000 after buying an additional 8,315 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in KeyCorp by 14.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,078,792 shares of the financial services provider’s stock valued at $17,056,000 after buying an additional 137,037 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in KeyCorp during the 1st quarter worth approximately $167,000. Finally, Intech Investment Management LLC acquired a new position in shares of KeyCorp in the 1st quarter worth approximately $207,000. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In related news, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KEY. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a report on Thursday, November 7th. DA Davidson boosted their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Evercore ISI raised their target price on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.03.

KeyCorp Stock Performance

KEY opened at $19.13 on Friday. The business has a 50 day moving average price of $17.11 and a two-hundred day moving average price of $15.74. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of 1,913.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.00.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Research analysts predict that KeyCorp will post 1.08 EPS for the current fiscal 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.