Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in KeyCorp $KEY

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in KeyCorp (NYSE:KEY) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,834,212 shares of the financial services provider’s stock after acquiring an additional 102,902 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.17% of KeyCorp worth $31,952,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of KeyCorp by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider’s stock valued at $2,004,273,000 after purchasing an additional 8,412,625 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in KeyCorp by 40.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider’s stock valued at $814,756,000 after buying an additional 14,651,281 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of KeyCorp by 12.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 30,511,720 shares of the financial services provider’s stock valued at $487,882,000 after buying an additional 3,327,972 shares during the last quarter. Invesco Ltd. increased its holdings in shares of KeyCorp by 19.5% in the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider’s stock worth $329,777,000 after buying an additional 3,363,421 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of KeyCorp by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,201,253 shares of the financial services provider’s stock valued at $179,084,000 after acquiring an additional 319,019 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider directly owned 245,044 shares of the company’s stock, valued at $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $18.11 on Wednesday. The company’s fifty day moving average price is $18.23 and its 200-day moving average price is $17.54. The stock has a market cap of $19.79 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a 12 month low of $12.73 and a 12 month high of $20.04.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. During the same period last year, the business earned ($0.47) earnings per share. The business’s revenue was up 172.7% on a year-over-year basis. On average, equities analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

KEY has been the topic of a number of analyst reports. Truist Financial decreased their price target on KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Jefferies Financial Group decreased their target price on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Evercore ISI upped their price target on shares of KeyCorp from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. UBS Group raised their price target on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, DA Davidson decreased their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.75.

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.