KeyCorp (NYSE:KEY) Shares Bought by New England Asset Management Inc.

New England Asset Management Inc. grew its stake in KeyCorp (NYSE:KEY) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 562,160 shares of the financial services provider’s stock after purchasing an additional 4,615 shares during the quarter. KeyCorp makes up approximately 1.5% of New England Asset Management Inc.’s holdings, making the stock its 13th biggest holding. New England Asset Management Inc.’s holdings in KeyCorp were worth $9,416,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in KeyCorp in the first quarter valued at about $25,000. Wolff Wiese Magana LLC increased its holdings in shares of KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $28,000. Crewe Advisors LLC acquired a new stake in shares of KeyCorp during the 1st quarter valued at approximately $32,000. Finally, Catalyst Capital Advisors LLC bought a new position in KeyCorp during the third quarter worth $35,000. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group increased their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Royal Bank of Canada lifted their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, Wedbush raised their price target 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.03.

KeyCorp Stock Performance

Shares of KEY opened at $19.23 on Tuesday. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00. The firm has a market capitalization of $19.06 billion, a PE ratio of 1,923.00, a P/E/G ratio of 1.05 and a beta of 1.24. The firm has a 50-day moving average price of $17.29 and a 200 day moving average price of $15.85. 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, beating analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. On average, sell-side analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The stock was 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 owns 37,864 shares in the company, 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. 0.67% of the stock is owned by insiders.

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.