TRUE Private Wealth Advisors Acquires 2,380 Shares of KeyCorp (NYSE:KEY)

TRUE Private Wealth Advisors boosted its holdings in KeyCorp (NYSE:KEY) by 3.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,580 shares of the financial services provider’s stock after acquiring an additional 2,380 shares during the quarter. TRUE Private Wealth Advisors’ holdings in KeyCorp were worth $1,160,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in KeyCorp by 102.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 602,340 shares of the financial services provider’s stock valued at $8,674,000 after acquiring an additional 304,205 shares in the last quarter. SVB Wealth LLC lifted its position in KeyCorp by 18.2% in the 4th quarter. SVB Wealth LLC now owns 11,961 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 1,840 shares in the last quarter. Mackenzie Financial Corp lifted its position in KeyCorp by 24.2% in the 4th quarter. Mackenzie Financial Corp now owns 1,412,114 shares of the financial services provider’s stock valued at $20,334,000 after acquiring an additional 275,459 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of KeyCorp by 25.2% during the 4th quarter. Vontobel Holding Ltd. now owns 115,346 shares of the financial services provider’s stock worth $1,661,000 after buying an additional 23,218 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in shares of KeyCorp during the 4th quarter worth approximately $815,000. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. lifted 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. Evercore ISI lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Keefe, Bruyette & Woods lifted their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Finally, Piper Sandler lifted their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.53.

KeyCorp Stock Performance

KeyCorp stock traded down $0.21 during mid-day trading on Wednesday, reaching $14.22. The company’s stock had a trading volume of 13,134,308 shares, compared to its average volume of 10,007,049. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86. The company has a market capitalization of $13.19 billion, a P/E ratio of 15.97 and a beta of 1.29. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day moving average price is $14.65 and its two-hundred day moving average price is $13.34.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. KeyCorp had a net margin of 8.61% and a return on equity of 10.63%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business earned $0.38 EPS. Sell-side analysts predict that KeyCorp will post 1.17 EPS for the current fiscal year.

Insider Activity at KeyCorp

In other news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The shares were 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 in the company, valued at approximately $3,056,331.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The shares were 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 in the company, valued at approximately $3,056,331.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction 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 transaction, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,442 shares of company stock worth $303,914. 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.