KeyCorp (NYSE:KEY) Position Reduced by Equity Investment Corp

Equity Investment Corp trimmed its stake in KeyCorp (NYSE:KEY) by 13.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,394 shares of the financial services provider’s stock after selling 2,110 shares during the quarter. Equity Investment Corp’s holdings in KeyCorp were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC lifted its position in shares of KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of KeyCorp in the first quarter worth approximately $25,000. American Capital Advisory LLC purchased a new stake in shares of KeyCorp in the third quarter worth approximately $28,000. Crewe Advisors LLC purchased a new stake in shares of KeyCorp in the first quarter worth approximately $32,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of KeyCorp in the third quarter worth approximately $35,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

KeyCorp Stock Up 0.1 %

Shares of NYSE:KEY opened at $19.16 on Monday. KeyCorp has a 52 week low of $11.64 and a 52 week high of $20.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company’s fifty day moving average is $17.23 and its 200-day moving average is $15.82. The company has a market capitalization 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 (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Equities research analysts predict that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value 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 $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on KEY shares. Royal Bank of Canada increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price objective on KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a report on Tuesday, September 10th. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Finally, Wedbush increased their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.03.

KeyCorp 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.