Marcum Wealth LLC Sells 7,824 Shares of KeyCorp (NYSE:KEY)

Marcum Wealth LLC lessened its holdings in shares of KeyCorp (NYSE:KEY) by 22.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,627 shares of the financial services provider’s stock after selling 7,824 shares during the period. Marcum Wealth LLC’s holdings in KeyCorp were worth $463,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Black Maple Capital Management LP increased its position in shares of KeyCorp by 51.8% during the fourth quarter. Black Maple Capital Management LP now owns 206,700 shares of the financial services provider’s stock worth $2,976,000 after buying an additional 70,500 shares during the period. Bluefin Capital Management LLC bought a new stake in KeyCorp in the fourth quarter worth approximately $317,000. Quarry LP acquired a new position in KeyCorp in the fourth quarter valued at approximately $38,000. Congress Asset Management Co. MA bought a new stake in shares of KeyCorp in the 4th quarter valued at $157,000. Finally, Wellington Management Group LLP lifted its position in shares of KeyCorp by 104.4% during the 4th quarter. Wellington Management Group LLP now owns 407,448 shares of the financial services provider’s stock valued at $5,867,000 after acquiring an additional 208,077 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Down 0.2 %

Shares of NYSE KEY opened at $16.84 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average of $16.22 and a 200-day moving average of $15.26. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 0.94 and a beta of 1.25. KeyCorp has a 12 month low of $9.50 and a 12 month high of $17.39.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the company posted $0.27 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Sell-side analysts expect that KeyCorp will post 1.08 earnings per share for the current fiscal year.

Insider Activity

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on KEY. Jefferies Financial Group raised their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Wedbush increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. DA Davidson boosted their target price on KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Morgan Stanley lifted their price objective on KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Finally, UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $15.00 in a report on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.22.

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.