KeyCorp (NYSE:KEY) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. reduced its stake in KeyCorp (NYSE:KEY) by 1.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 178,969 shares of the financial services provider’s stock after selling 1,740 shares during the period. KeyCorp accounts for 1.9% of Palouse Capital Management Inc.’s portfolio, making the stock its 20th biggest position. Palouse Capital Management Inc.’s holdings in KeyCorp were worth $2,998,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of KeyCorp by 104.4% during the 4th quarter. Wellington Management Group LLP now owns 407,448 shares of the financial services provider’s stock worth $5,867,000 after buying an additional 208,077 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of KeyCorp during the 4th quarter worth $272,000. Mather Group LLC. acquired a new position in shares of KeyCorp during the 1st quarter worth $67,000. Czech National Bank grew its position in KeyCorp by 0.5% during the first quarter. Czech National Bank now owns 164,768 shares of the financial services provider’s stock worth $2,605,000 after buying an additional 788 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in KeyCorp by 27.8% during the 1st quarter. International Assets Investment Management LLC now owns 38,707 shares of the financial services provider’s stock valued at $600,000 after acquiring an additional 8,424 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

KEY has been the subject of several analyst reports. DA Davidson boosted their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday. Barclays upped their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday. Wedbush boosted their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. Finally, Morgan Stanley lifted their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus target price of $17.62.

KeyCorp Stock Down 1.2 %

KEY stock traded down $0.20 during midday trading on Monday, hitting $17.15. 4,396,533 shares of the company’s stock were exchanged, compared to its average volume of 14,318,073. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.94. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of 1,715.00, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. The firm has a 50 day moving average price of $16.61 and a 200-day moving average price of $15.35.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. On average, analysts anticipate that KeyCorp will post 1.08 EPS for the current year.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

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.