GAM Holding AG Decreases Stock Holdings in KeyCorp $KEY

GAM Holding AG lessened its position in shares of KeyCorp (NYSE:KEY) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,530 shares of the financial services provider’s stock after selling 12,548 shares during the quarter. GAM Holding AG’s holdings in KeyCorp were worth $1,298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in shares of KeyCorp by 23.2% during the 2nd quarter. Nordea Investment Management AB now owns 107,565 shares of the financial services provider’s stock valued at $1,867,000 after purchasing an additional 20,228 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in KeyCorp in the first quarter valued at about $2,171,000. Signal Advisors Wealth LLC purchased a new stake in KeyCorp in the second quarter valued at about $431,000. Gradient Investments LLC purchased a new stake in KeyCorp in the second quarter valued at about $1,973,000. Finally, AQR Capital Management LLC raised its stake in KeyCorp by 5.1% in the first quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock valued at $6,495,000 after buying an additional 20,429 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KEY shares. Evercore ISI increased their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Wells Fargo & Company raised their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Truist Financial decreased their price target on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating for the company in a report on Friday, October 17th. DA Davidson reduced their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Finally, Royal Bank Of Canada raised their target price on KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, KeyCorp currently has an average rating of “Hold” and a consensus target price of $20.75.

KeyCorp Trading Up 0.6%

Shares of KeyCorp stock opened at $17.62 on Friday. The firm has a fifty day moving average price of $18.44 and a 200 day moving average price of $17.33. The stock has a market cap of $19.32 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.15. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the firm earned ($0.47) earnings per share. The business’s revenue was up 172.7% compared to the same quarter last year. Equities research analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

Insider Activity at KeyCorp

In other news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the sale, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by company 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.