Insider Selling: KeyCorp (NYSE:KEY) Insider Sells 39,130 Shares of Company Stock

KeyCorp (NYSE:KEY) insider Andrew Paine III sold 39,130 shares of KeyCorp stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $21.20, for a total transaction of $829,556.00. Following the transaction, the insider directly owned 191,571 shares of the company’s stock, valued at $4,061,305.20. The trade was a 16.96% 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.

KeyCorp Trading Up 1.3%

Shares of KeyCorp stock traded up $0.28 during trading on Thursday, hitting $21.48. The stock had a trading volume of 13,378,797 shares, compared to its average volume of 13,925,167. KeyCorp has a 12 month low of $16.91 and a 12 month high of $24.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.84 and a quick ratio of 0.83. The firm’s fifty day simple moving average is $20.97 and its 200-day simple moving average is $21.54. The stock has a market cap of $22.92 billion, a PE ratio of 11.80, a PEG ratio of 0.76 and a beta of 1.08.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Tuesday, October 20th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. KeyCorp had a return on equity of 12.06% and a net margin of 18.56%. KeyCorp’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.41 EPS. As a group, sell-side analysts expect that KeyCorp will post 1.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on KEY. Citigroup restated a “neutral” rating on shares of KeyCorp in a report on Tuesday, September 22nd. Argus raised shares of KeyCorp to a “strong-buy” rating in a report on Wednesday, July 29th. DA Davidson lifted their price target on KeyCorp from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Robert W. Baird raised their price objective on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Finally, UBS Group dropped their target price on KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.22.

Hedge Funds Weigh In On KeyCorp

A number of large investors have recently bought and sold shares of the business. North Reef Capital Management LP acquired a new stake in shares of KeyCorp in the 1st quarter valued at $253,632,000. Commerce Bank acquired a new position in shares of KeyCorp during the second quarter worth $2,657,000. Weiss Asset Management LP acquired a new position in shares of KeyCorp during the first quarter worth $7,040,000. Bank of Nova Scotia increased its holdings in KeyCorp by 0.6% in the first quarter. Bank of Nova Scotia now owns 162,996,326 shares of the financial services provider’s stock valued at $3,268,076,000 after buying an additional 900,951 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of KeyCorp by 10.0% during the 1st quarter. Royal Bank of Canada now owns 5,140,288 shares of the financial services provider’s stock worth $103,062,000 after acquiring an additional 466,273 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Company Profile

KeyCorp is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, it provides retail and commercial banking services to individuals, businesses, institutional clients and government entities.

KeyBank’s offerings include checking and savings accounts, consumer lending, mortgages, home equity financing, credit cards, business loans, treasury management and payment services. The company also provides investment banking and capital markets services through KeyBanc Capital Markets, as well as wealth management, investment management and personal financial planning services.

KeyCorp traces its history to 1825, when the institution that became KeyBank was established in Albany, New York.