ING Groep NV Sells 69,840 Shares of KeyCorp (NYSE:KEY)

ING Groep NV trimmed its holdings in KeyCorp (NYSE:KEY) by 59.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,047 shares of the financial services provider’s stock after selling 69,840 shares during the quarter. ING Groep NV’s holdings in KeyCorp were worth $805,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Bleakley Financial Group LLC increased its position in KeyCorp by 11.2% in the first quarter. Bleakley Financial Group LLC now owns 12,578 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 1,265 shares during the period. Intech Investment Management LLC acquired a new stake in KeyCorp in the first quarter worth about $207,000. O Shaughnessy Asset Management LLC increased its position in KeyCorp by 368.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 214,145 shares of the financial services provider’s stock worth $3,386,000 after purchasing an additional 168,411 shares during the period. Seven Eight Capital LP increased its position in KeyCorp by 69.5% in the first quarter. Seven Eight Capital LP now owns 94,305 shares of the financial services provider’s stock worth $1,491,000 after purchasing an additional 38,665 shares during the period. Finally, Bessemer Group Inc. increased its position in KeyCorp by 21.4% in the first quarter. Bessemer Group Inc. now owns 14,512 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 2,559 shares during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Performance

Shares of KEY stock opened at $19.16 on Monday. The firm has a market cap of $18.99 billion, a PE ratio of 1,916.00, a P/E/G ratio of 1.05 and a beta of 1.24. KeyCorp has a 12 month low of $11.64 and a 12 month high of $20.00. The company’s fifty day simple moving average is $17.23 and its 200-day simple moving average is $15.82. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. Equities research analysts expect that KeyCorp will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on KEY. Baird R W lowered KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Morgan Stanley boosted their target price on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. DA Davidson boosted their target price on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Royal Bank of Canada boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Finally, Barclays boosted their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and an average target price of $18.03.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate 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.