Cutter & CO Brokerage Inc. Sells 3,924 Shares of KeyCorp (NYSE:KEY)

Cutter & CO Brokerage Inc. lessened its holdings in KeyCorp (NYSE:KEY) by 19.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,045 shares of the financial services provider’s stock after selling 3,924 shares during the period. Cutter & CO Brokerage Inc.’s holdings in KeyCorp were worth $231,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Bruce G. Allen Investments LLC purchased a new stake in KeyCorp in the 4th quarter worth about $26,000. Sound Income Strategies LLC lifted its stake in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new position in KeyCorp during the 3rd quarter valued at about $28,000. Baldwin Brothers LLC MA purchased a new position in KeyCorp during the 4th quarter valued at about $35,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of KeyCorp by 195.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,763 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,442 shares of company stock worth $303,914. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KEY shares. Jefferies Financial Group boosted their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. DA Davidson lowered their target price on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 19th. Morgan Stanley lifted their price target on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Wells Fargo & Company raised their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Finally, Wedbush dropped their price objective on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Price Performance

Shares of KeyCorp stock traded up $0.11 during trading on Wednesday, reaching $14.83. The company’s stock had a trading volume of 9,822,594 shares, compared to its average volume of 16,400,326. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The business has a 50 day moving average price of $14.72 and a 200-day moving average price of $13.49. The company has a market capitalization of $13.75 billion, a P/E ratio of 18.72 and a beta of 1.29.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that KeyCorp will post 1.15 EPS for the current year.

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.