Cozad Asset Management Inc. Takes Position in KeyCorp (NYSE:KEY)

Cozad Asset Management Inc. acquired a new stake in KeyCorp (NYSE:KEY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 139,397 shares of the financial services provider’s stock, valued at approximately $2,007,000.

Several other hedge funds also recently added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC acquired a new stake in shares of KeyCorp during the 4th quarter worth about $26,000. Sound Income Strategies LLC raised its stake in shares of KeyCorp by 3,600.0% in 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 during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of KeyCorp in the 3rd quarter valued at approximately $28,000. Baldwin Brothers LLC MA purchased a new position in shares of KeyCorp during the 4th quarter worth approximately $35,000. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of KeyCorp by 195.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,763 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on KEY shares. JPMorgan Chase & Co. increased their target price on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Barclays cut their target price on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, January 19th. 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 research report on Friday, January 19th. Morgan Stanley upped their price objective on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Piper Sandler lifted their target price on KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, KeyCorp has a consensus rating of “Moderate Buy” and a consensus target price of $15.71.

Insider Activity at KeyCorp

In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the transaction, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares in the company, valued at $3,056,331.20. The sale 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 company’s stock in a transaction dated Friday, February 16th. The stock was 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 in the company, valued at $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,442 shares of company stock worth $303,914 in the last three months. Insiders own 0.67% of the company’s stock.

KeyCorp Trading Down 1.6 %

NYSE:KEY opened at $14.49 on Wednesday. The company has a market capitalization of $13.44 billion, a PE ratio of 18.34 and a beta of 1.29. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The stock’s 50 day moving average price is $14.78 and its 200 day moving average price is $13.64. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. On average, research analysts anticipate that KeyCorp will post 1.15 EPS for the current year.

KeyCorp 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.