NorthRock Partners LLC Has $680,000 Stake in KeyCorp $KEY

NorthRock Partners LLC decreased its stake in shares of KeyCorp (NYSE:KEY) by 3.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 39,054 shares of the financial services provider’s stock after selling 1,601 shares during the period. NorthRock Partners LLC’s holdings in KeyCorp were worth $680,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Dakota Wealth Management grew its holdings in KeyCorp by 2.2% in the 2nd quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock valued at $477,000 after buying an additional 586 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in KeyCorp by 2.9% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock valued at $389,000 after buying an additional 639 shares during the last quarter. AlphaCore Capital LLC grew its holdings in KeyCorp by 5.2% in the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock valued at $212,000 after buying an additional 651 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in KeyCorp by 34.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock valued at $42,000 after buying an additional 671 shares during the last quarter. Finally, Greenleaf Trust grew its holdings in KeyCorp by 5.7% in the 2nd quarter. Greenleaf Trust now owns 12,738 shares of the financial services provider’s stock valued at $222,000 after buying an additional 691 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Price Performance

KeyCorp stock opened at $18.04 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $19.78 billion, a PE ratio of -257.64, a price-to-earnings-growth ratio of 0.56 and a beta of 1.15. KeyCorp has a one year low of $12.73 and a one year high of $20.04. The business has a 50 day simple moving average of $18.58 and a 200 day simple moving average of $17.05.

KeyCorp (NYSE:KEY) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.81 billion. KeyCorp had a return on equity of 9.65% and a net margin of 1.49%.KeyCorp’s revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS. On average, sell-side analysts forecast that KeyCorp will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 245,044 shares in the company, valued at $4,726,898.76. This trade represents a 15.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher M. Gorman sold 112,149 shares of the firm’s stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.86, for a total value of $2,115,130.14. Following the transaction, the chief executive officer owned 619,895 shares of the company’s stock, valued at $11,691,219.70. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 174,102 shares of company stock worth $3,299,664 in the last 90 days. 0.52% of the stock is owned by company insiders.

Analyst Ratings Changes

KEY has been the topic of a number of research analyst reports. Royal Bank Of Canada raised their target price on KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. raised their target price on KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a report on Friday, October 10th. DA Davidson raised their price objective on KeyCorp from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. UBS Group raised their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of KeyCorp in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.86.

KeyCorp Company 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.