IFP Advisors Inc Sells 4,035 Shares of KeyCorp (KEY)

IFP Advisors Inc lowered its holdings in KeyCorp (NYSE:KEY) by 15.4% during the third quarter, Holdings Channel reports. The fund owned 22,137 shares of the financial services provider’s stock after selling 4,035 shares during the period. IFP Advisors Inc’s holdings in KeyCorp were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of KEY. Fagan Associates Inc. increased its stake in shares of KeyCorp by 4.1% in the second quarter. Fagan Associates Inc. now owns 66,049 shares of the financial services provider’s stock valued at $1,291,000 after purchasing an additional 2,627 shares during the period. Amalgamated Bank increased its stake in shares of KeyCorp by 2.3% in the second quarter. Amalgamated Bank now owns 136,207 shares of the financial services provider’s stock valued at $2,661,000 after purchasing an additional 3,031 shares during the period. Baird Financial Group Inc. increased its stake in shares of KeyCorp by 33.1% in the second quarter. Baird Financial Group Inc. now owns 13,652 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 3,395 shares during the period. D.A. Davidson & CO. increased its stake in shares of KeyCorp by 2.4% in the second quarter. D.A. Davidson & CO. now owns 168,160 shares of the financial services provider’s stock valued at $3,286,000 after purchasing an additional 3,986 shares during the period. Finally, Providence Capital Advisors LLC increased its stake in shares of KeyCorp by 5.3% in the second quarter. Providence Capital Advisors LLC now owns 80,752 shares of the financial services provider’s stock valued at $1,578,000 after purchasing an additional 4,098 shares during the period. 80.19% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have commented on KEY shares. Zacks Investment Research upgraded shares of KeyCorp from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Vining Sparks restated a “buy” rating and issued a $25.00 price target on shares of KeyCorp in a research note on Thursday, July 19th. UBS Group set a $23.00 price target on shares of KeyCorp and gave the company a “buy” rating in a research note on Monday, October 22nd. Wedbush set a $23.00 price target on shares of KeyCorp and gave the company a “buy” rating in a research note on Thursday, September 13th. Finally, Nomura dropped their price target on shares of KeyCorp from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, October 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.39.

In related news, insider Edward J. Burke sold 46,360 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $21.32, for a total transaction of $988,395.20. Following the completion of the sale, the insider now directly owns 89,128 shares in the company, valued at $1,900,208.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas M. Schosser sold 6,048 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $21.49, for a total transaction of $129,971.52. Following the sale, the insider now owns 23,164 shares of the company’s stock, valued at $497,794.36. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

NYSE KEY opened at $18.43 on Monday. KeyCorp has a 12 month low of $16.48 and a 12 month high of $22.40. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.01. The company has a market cap of $19.39 billion, a P/E ratio of 13.55, a P/E/G ratio of 0.68 and a beta of 1.00.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. KeyCorp had a net margin of 21.47% and a return on equity of 12.56%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts predict that KeyCorp will post 1.73 EPS for the current fiscal year.

About KeyCorp

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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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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