Investors Sell Shares of KeyCorp (KEY) on Strength (KEY)

Investors sold shares of KeyCorp (NYSE:KEY) on strength during trading hours on Thursday. $37.07 million flowed into the stock on the tick-up and $46.15 million flowed out of the stock on the tick-down, for a money net flow of $9.08 million out of the stock. Of all equities tracked, KeyCorp had the 0th highest net out-flow for the day. KeyCorp traded up $0.68 for the day and closed at $19.55

A number of brokerages recently weighed in on KEY. BMO Capital Markets reduced their target price on shares of KeyCorp from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday. Vining Sparks restated a “buy” rating and set a $25.00 price objective on shares of KeyCorp in a research note on Thursday, January 18th. Zacks Investment Research upgraded shares of KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, December 26th. Oppenheimer restated a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Finally, Barclays increased their price objective on shares of KeyCorp from $19.00 to $23.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. KeyCorp currently has a consensus rating of “Buy” and an average target price of $22.25.

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The company has a market cap of $20,736.43, a PE ratio of 14.60, a PEG ratio of 1.23 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.99.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 19th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. KeyCorp had a net margin of 19.32% and a return on equity of 11.03%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business posted $0.32 EPS. KeyCorp’s revenue was up 3.1% on a year-over-year basis. equities research analysts expect that KeyCorp will post 1.67 EPS for the current year.

In related news, insider Craig A. Buffie sold 11,819 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $21.21, for a total value of $250,680.99. Following the completion of the sale, the insider now directly owns 51,791 shares in the company, valued at approximately $1,098,487.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher M. Gorman sold 56,038 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $20.97, for a total transaction of $1,175,116.86. The disclosure for this sale can be found here. Insiders sold a total of 92,857 shares of company stock valued at $1,953,548 over the last quarter. 0.65% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. New England Research & Management Inc. raised its holdings in KeyCorp by 12.8% in the 4th quarter. New England Research & Management Inc. now owns 50,845 shares of the financial services provider’s stock valued at $1,026,000 after acquiring an additional 5,750 shares during the period. M&T Bank Corp raised its holdings in KeyCorp by 5.6% in the 4th quarter. M&T Bank Corp now owns 86,925 shares of the financial services provider’s stock valued at $1,754,000 after acquiring an additional 4,576 shares during the period. SeaCrest Wealth Management LLC bought a new position in KeyCorp in the 4th quarter valued at about $971,000. Xact Kapitalforvaltning AB raised its holdings in KeyCorp by 4.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 240,699 shares of the financial services provider’s stock valued at $4,855,000 after acquiring an additional 10,948 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in KeyCorp by 21.1% in the 3rd quarter. GSA Capital Partners LLP now owns 51,286 shares of the financial services provider’s stock valued at $965,000 after acquiring an additional 8,937 shares during the period. 81.71% of the stock is currently owned by hedge funds and other institutional investors.

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KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.

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