KeyCorp $KEY Stock Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of KeyCorp (NYSE:KEY) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,872,261 shares of the financial services provider’s stock after selling 29,359 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.18% of KeyCorp worth $37,576,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. N.E.W. Advisory Services LLC bought a new stake in shares of KeyCorp during the 2nd quarter valued at about $30,000. Silvant Capital Management LLC purchased a new position in shares of KeyCorp during the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. acquired a new stake in KeyCorp in the second quarter valued at approximately $31,000. GK Wealth Management LLC acquired a new stake in shares of KeyCorp in the third quarter worth $30,000. Finally, Trust Co. of Vermont acquired a new stake in KeyCorp in the 2nd quarter worth $44,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group decreased their target price on KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Stephens reissued an “overweight” rating and issued a $26.00 target price on shares of KeyCorp in a report on Tuesday, September 15th. Wall Street Zen upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research report on Sunday, October 25th. Citigroup reissued a “neutral” rating on shares of KeyCorp in a report on Tuesday, September 22nd. Finally, Robert W. Baird increased their target price on KeyCorp from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. One equities 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. According to data from MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and an average target price of $46.25.

KeyCorp Stock Up 1.5%

NYSE:KEY opened at $21.55 on Thursday. KeyCorp has a twelve month low of $16.91 and a twelve month high of $24.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. The company has a market cap of $23.00 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.75 and a beta of 1.07. The stock has a fifty day simple moving average of $20.91 and a 200-day simple moving average of $21.55.

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

Insider Activity

In other news, insider Andrew Paine, III sold 39,130 shares of the business’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total transaction of $829,556.00. Following the transaction, the insider owned 191,571 shares of the company’s stock, valued at approximately $4,061,305.20. The trade was a 16.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by company insiders.

KeyCorp Company Profile

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.