Bryn Mawr Capital Management LLC Sells 129,776 Shares of KeyCorp (NYSE:KEY)

Bryn Mawr Capital Management LLC reduced its stake in shares of KeyCorp (NYSE:KEY) by 85.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,807 shares of the financial services provider’s stock after selling 129,776 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in KeyCorp were worth $314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in KeyCorp by 8.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after acquiring an additional 21,395 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after acquiring an additional 86,579 shares during the last quarter. Miller Howard Investments Inc. NY bought a new position in KeyCorp in the fourth quarter valued at approximately $7,200,000. Fifth Third Bancorp boosted its stake in KeyCorp by 1.0% in the fourth quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock valued at $3,426,000 after acquiring an additional 2,344 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in KeyCorp by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock valued at $248,844,000 after acquiring an additional 3,216,584 shares during the last quarter. 79.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. DA Davidson cut their target price on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Keefe, Bruyette & Woods increased their target price 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 increased their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Argus increased their target price on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Morgan Stanley raised their price objective on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Stock Up 0.6 %

Shares of KEY stock opened at $14.70 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86. The firm’s fifty day moving average price is $14.76 and its two-hundred day moving average price is $13.56. The firm has a market capitalization of $13.63 billion, a P/E ratio of 18.61 and a beta of 1.29.

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

Insider Activity

In other news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Douglas M. Schosser sold 3,326 shares of KeyCorp stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the transaction, the chief accounting officer now owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction dated 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 transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders sold a total of 21,442 shares of company stock valued at $303,914 in the last quarter. Company insiders own 0.61% 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.