KeyCorp (NYSE:KEY) Stake Decreased by LSV Asset Management

LSV Asset Management decreased its holdings in KeyCorp (NYSE:KEY) by 67.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,723,983 shares of the financial services provider’s stock after selling 5,647,972 shares during the quarter. LSV Asset Management owned 0.29% of KeyCorp worth $39,225,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Cornerstone Wealth Management LLC grew its stake in shares of KeyCorp by 6.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 732 shares during the last quarter. UMB Bank n.a. boosted its position in KeyCorp by 2.5% during the 4th quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 841 shares during the period. PL Capital Advisors LLC grew its stake in KeyCorp by 1.7% during the 3rd quarter. PL Capital Advisors LLC now owns 54,900 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 900 shares in the last quarter. AHL Investment Management Inc. increased its stake in KeyCorp by 1.8% in the 4th quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock valued at $739,000 after buying an additional 900 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of KeyCorp by 15.8% during the fourth quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 901 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

KeyCorp stock opened at $15.07 on Monday. The firm has a market capitalization of $14.21 billion, a P/E ratio of 18.90 and a beta of 1.28. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. KeyCorp has a 52-week low of $8.73 and a 52-week high of $15.86. The stock has a fifty day moving average price of $14.82 and a two-hundred day moving average price of $13.72.

KeyCorp (NYSE:KEY) last announced 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 net margin of 7.53% and a return on equity of 8.89%. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. As a group, analysts anticipate that KeyCorp will post 1.15 EPS for the current fiscal year.

Analysts Set New Price Targets

KEY has been the subject of several analyst reports. Barclays reduced their price objective on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, January 19th. Wedbush reduced their price objective on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. JPMorgan Chase & Co. boosted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods raised their price target on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. Finally, Morgan Stanley increased their target price on KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Insiders Place Their Bets

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kenneth C. Gavrity sold 2,376 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 21,442 shares of company stock valued at $303,914. Company insiders own 0.67% of the company’s stock.

About KeyCorp

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.