Greenwood Capital Associates LLC Makes New $1.20 Million Investment in KeyCorp (NYSE:KEY)

Greenwood Capital Associates LLC acquired a new stake in KeyCorp (NYSE:KEY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 71,650 shares of the financial services provider’s stock, valued at approximately $1,200,000.

A number of other hedge funds have also made changes to their positions in the stock. Ontario Teachers Pension Plan Board grew its stake in shares of KeyCorp by 8.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after purchasing an additional 1,748,633 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of KeyCorp by 12.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after acquiring an additional 2,213,872 shares during the last quarter. Earnest Partners LLC raised its position in shares of KeyCorp by 23.2% during the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after purchasing an additional 2,339,454 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of KeyCorp by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after purchasing an additional 300,339 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its position in shares of KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after purchasing an additional 3,517,755 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

KEY opened at $17.04 on Tuesday. KeyCorp has a 1 year low of $10.73 and a 1 year high of $17.94. The stock has a 50-day moving average price of $16.80 and a 200-day moving average price of $15.54. The firm has a market cap of $16.07 billion, a PE ratio of 1,704.00, a P/E/G ratio of 0.94 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

Insider Transactions at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the transaction, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KEY has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their price target on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a report on Tuesday, September 10th. UBS Group increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Barclays boosted their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.79.

About KeyCorp

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.