KeyCorp (NYSE:KEY) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in KeyCorp (NYSE:KEY) by 39.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,949 shares of the financial services provider’s stock after selling 67,675 shares during the quarter. OLD National Bancorp IN’s holdings in KeyCorp were worth $1,526,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Criterion Capital Advisors LLC purchased a new position in shares of KeyCorp in the 4th quarter valued at approximately $39,000. abrdn plc increased its stake in KeyCorp by 70.1% during the 4th quarter. abrdn plc now owns 390,946 shares of the financial services provider’s stock valued at $5,630,000 after purchasing an additional 161,059 shares in the last quarter. RIA Advisory Group LLC acquired a new position in shares of KeyCorp in the 4th quarter valued at $89,000. Daiwa Securities Group Inc. raised its stake in KeyCorp by 6.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 84,852 shares of the financial services provider’s stock worth $1,222,000 after acquiring an additional 4,896 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in KeyCorp during the 4th quarter worth about $56,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

NYSE KEY opened at $14.64 on Tuesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The stock’s fifty day moving average is $14.70 and its two-hundred day moving average is $13.46. The firm has a market capitalization of $13.58 billion, a P/E ratio of 18.53 and a beta of 1.29. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue was down 10.6% on a year-over-year basis. On average, research analysts anticipate that KeyCorp will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

KEY has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Evercore ISI upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada raised their target price on shares of KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler boosted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. Finally, Wedbush cut their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.71.

Insider Buying and Selling

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the company’s 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 transaction, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the transaction, the director now owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,442 shares of company stock valued at $303,914. 0.67% of the stock is currently owned by insiders.

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.