Versor Investments LP Takes $476,000 Position in KeyCorp $KEY

Versor Investments LP bought a new stake in KeyCorp (NYSE:KEY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 27,317 shares of the financial services provider’s stock, valued at approximately $476,000.

Other large investors have also recently bought and sold shares of the company. Activest Wealth Management increased its position in shares of KeyCorp by 8,775.0% in the 2nd quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock valued at $25,000 after buying an additional 1,404 shares in the last quarter. Tompkins Financial Corp bought a new stake in shares of KeyCorp in the 2nd quarter valued at $26,000. Zions Bancorporation National Association UT bought a new stake in shares of KeyCorp in the first quarter worth about $28,000. Allworth Financial LP increased its holdings in shares of KeyCorp by 246.9% in the first quarter. Allworth Financial LP now owns 2,168 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 1,543 shares in the last quarter. Finally, Concord Wealth Partners increased its holdings in shares of KeyCorp by 71.5% in the second quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 910 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total value of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. This trade represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

KeyCorp Stock Down 1.3%

KeyCorp stock opened at $17.31 on Wednesday. The company has a market cap of $18.98 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 0.52 and a beta of 1.15. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The company has a fifty day simple moving average of $18.37 and a 200 day simple moving average of $17.42. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. KeyCorp had a return on equity of 10.14% and a net margin of 10.08%.KeyCorp’s revenue for the quarter was up 172.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.47) EPS. Research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on KEY shares. Evercore ISI increased their target price on KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Jefferies Financial Group lowered their price objective on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, October 17th. Royal Bank Of Canada increased their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. DA Davidson lowered their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, October 17th. Finally, UBS Group increased their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, KeyCorp presently has a consensus rating of “Hold” and an average target price of $20.75.

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.