Key Points
- KeyCorp insider Andrew Paine III sold 39,130 shares at an average price of $21.20, generating $829,556 and reducing his direct holdings by 16.96% to 191,571 shares.
- KeyCorp reported quarterly earnings of $0.51 per share, exceeding the $0.46 consensus estimate, while revenue reached $2.05 billion, up 8.3% year over year.
- Institutional investors own 79.69% of KeyCorp’s stock, and analysts maintain a “Moderate Buy” consensus rating despite mixed price-target revisions.
KeyCorp (NYSE:KEY - Get Free Report) insider Andrew Paine III sold 39,130 shares of the company's stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total transaction of $829,556.00. Following the completion of the sale, the insider directly owned 191,571 shares of the company's stock, valued at $4,061,305.20. This trade represents a 16.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
KeyCorp Price Performance
KEY stock opened at $21.48 on Friday. The firm has a market cap of $22.92 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.75 and a beta of 1.08. The firm's fifty day moving average is $20.95 and its 200 day moving average is $21.54. KeyCorp has a 52 week low of $16.91 and a 52 week high of $24.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.84.
KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. Research analysts predict that KeyCorp will post 1.88 earnings per share for the current year.
Institutional Investors Weigh In On KeyCorp
A number of large investors have recently added to or reduced their stakes in KEY. Bank of Nova Scotia bought a new stake in shares of KeyCorp during the 2nd quarter valued at $3,636,436,000. BlackRock Inc. bought a new position in shares of KeyCorp in the 2nd quarter worth about $2,039,113,000. Deutsche Bank AG bought a new position in shares of KeyCorp in the 2nd quarter worth about $380,244,000. North Reef Capital Management LP purchased a new position in KeyCorp during the 1st quarter valued at about $253,632,000. Finally, Legal & General Group Plc purchased a new position in KeyCorp during the 2nd quarter valued at about $142,169,000. Institutional investors own 79.69% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on KEY shares. Evercore reiterated an "outperform" rating and issued a $24.00 price objective on shares of KeyCorp in a report on Thursday, October 1st. Royal Bank Of Canada dropped their target price on KeyCorp from $25.00 to $24.00 and set an "outperform" rating for the company in a report on Wednesday, October 21st. Wells Fargo & Company raised their price target on KeyCorp from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Jefferies Financial Group decreased their price target on KeyCorp from $24.00 to $22.00 and set a "hold" rating on the stock in a research note on Thursday, September 24th. Finally, JPMorgan Chase & Co. lowered their price objective on KeyCorp from $24.50 to $23.00 and set a "neutral" rating for the company in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.22.
View Our Latest Stock Report on KeyCorp
KeyCorp Company Profile
(
Get Free Report)
KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.
KeyBank's offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.
KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.
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