97,987 Shares in KeyCorp $KEY Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new stake in shares of KeyCorp (NYSE:KEY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 97,987 shares of the financial services provider’s stock, valued at approximately $1,971,000.

Other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia lifted its holdings in KeyCorp by 0.6% during the first quarter. Bank of Nova Scotia now owns 162,996,326 shares of the financial services provider’s stock worth $3,268,076,000 after buying an additional 900,951 shares during the period. BlackRock Inc. bought a new stake in KeyCorp during the 2nd quarter valued at $2,039,113,000. State Street Corp increased its holdings in shares of KeyCorp by 9.0% in the 2nd quarter. State Street Corp now owns 51,368,660 shares of the financial services provider’s stock valued at $1,184,048,000 after acquiring an additional 4,238,225 shares during the period. Deutsche Bank AG purchased a new position in shares of KeyCorp in the 2nd quarter valued at $380,244,000. Finally, North Reef Capital Management LP purchased a new position in shares of KeyCorp in the 1st quarter valued at $253,632,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Andrew Paine, III sold 39,130 shares of the company’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $21.20, for a total transaction of $829,556.00. Following the transaction, the insider directly owned 191,571 shares of the company’s stock, valued at $4,061,305.20. This represents a 16.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KEY shares. Stephens restated an “overweight” rating and set a $26.00 price objective on shares of KeyCorp in a research note on Tuesday, September 15th. Truist Financial dropped their price objective on KeyCorp from $24.00 to $23.00 and set a “hold” rating on the stock in a research report on Wednesday, September 23rd. Robert W. Baird lifted their target price on KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group reduced their target price on shares of KeyCorp from $24.00 to $22.00 and set a “hold” rating for the company in a report on Thursday, September 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of KeyCorp from $23.00 to $23.50 and gave the company a “neutral” rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and a consensus price target of $46.25.

KeyCorp Price Performance

NYSE KEY opened at $21.36 on Wednesday. The firm’s fifty day simple moving average is $20.85 and its two-hundred day simple moving average is $21.54. The firm has a market capitalization of $22.55 billion, a P/E ratio of 11.89, a P/E/G ratio of 0.76 and a beta of 1.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. KeyCorp has a 12-month low of $16.91 and a 12-month high of $24.07.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.41 EPS. Analysts forecast that KeyCorp will post 1.88 EPS for the current fiscal year.

KeyCorp Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, and the parent of KeyBank National Association. KeyBank traces its history to 1825 and serves consumers, businesses, and institutions through banking and financial services. The company’s offerings include consumer and small-business banking, commercial lending, treasury and payment services, investment banking, and wealth management. Its commercial and investment banking services are also available to clients beyond its retail branch footprint.