Charles Schwab Investment Management Inc. Has $337.19 Million Position in KeyCorp (NYSE:KEY)

Charles Schwab Investment Management Inc. grew its stake in shares of KeyCorp (NYSE:KEY) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,416,018 shares of the financial services provider’s stock after acquiring an additional 289,258 shares during the period. Charles Schwab Investment Management Inc. owned 2.50% of KeyCorp worth $337,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new position in shares of KeyCorp during the 4th quarter valued at $26,000. Sound Income Strategies LLC grew its holdings in shares of KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,836 shares in the last quarter. Baldwin Brothers LLC MA bought a new stake in KeyCorp in the fourth quarter worth $35,000. Cary Street Partners Investment Advisory LLC bought a new stake in KeyCorp in the third quarter worth $28,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in KeyCorp by 195.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,763 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KEY. Argus upped their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Piper Sandler upped their price target on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, January 26th. DA Davidson decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, January 19th. Finally, Wells Fargo & Company upped their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. One investment 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.com, KeyCorp presently has an average rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Price Performance

NYSE:KEY traded up $0.08 during mid-day trading on Wednesday, hitting $15.01. The company’s stock had a trading volume of 6,111,987 shares, compared to its average volume of 15,927,857. KeyCorp has a fifty-two week low of $8.73 and a fifty-two week high of $15.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 18.91 and a beta of 1.28. The stock has a fifty day moving average of $14.86 and a 200-day moving average of $13.79.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) 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 analyst estimates of $1.51 billion. During the same period last year, the company earned $0.44 EPS. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. As a group, equities analysts forecast that KeyCorp will post 1.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, 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 owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Kenneth C. Gavrity sold 2,376 shares of the firm’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 transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The disclosure for this sale can be found here. Insiders sold 21,442 shares of company stock valued at $303,914 over the last quarter. Corporate 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.