231,901 Shares in KeyCorp $KEY Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of KeyCorp (NYSE:KEY) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 231,901 shares of the financial services provider’s stock, valued at approximately $4,654,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Reef Capital Management LP bought a new position in KeyCorp in the 1st quarter worth $253,632,000. Commerce Bank purchased a new stake in shares of KeyCorp in the 2nd quarter worth about $2,657,000. Weiss Asset Management LP bought a new stake in shares of KeyCorp during the 1st quarter valued at about $7,040,000. Bank of Nova Scotia boosted its stake in shares of KeyCorp by 0.6% during the 1st 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 purchasing an additional 900,951 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake 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 valued at $103,062,000 after purchasing an additional 466,273 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $20.95 on Friday. The company’s fifty day moving average price is $20.89 and its 200-day moving average price is $21.55. The stock has a market cap of $22.35 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.72. KeyCorp has a 12 month low of $16.91 and a 12 month high of $24.07.

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 the consensus estimate of $0.46 by $0.05. KeyCorp had a net margin of 18.56% and a return on equity of 12.06%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the business earned $0.41 EPS. KeyCorp’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that KeyCorp will post 1.88 EPS for the current fiscal year.

Insider Buying and Selling

In other KeyCorp news, insider Andrew Paine, III sold 39,130 shares of the company’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $21.20, for a total value of $829,556.00. Following the sale, the insider owned 191,571 shares in the company, valued at approximately $4,061,305.20. This represents a 16.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

KEY has been the subject of a number of research reports. Stephens reissued an “overweight” rating and issued a $26.00 price target on shares of KeyCorp in a research note on Tuesday, September 15th. UBS Group cut their price objective on KeyCorp from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Robert W. Baird upped their target price on KeyCorp from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Truist Financial reduced their target price on KeyCorp from $24.00 to $23.00 and set a “hold” rating on the stock in a report on Wednesday, September 23rd. Finally, Keefe, Bruyette & Woods increased their target price on KeyCorp from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $46.25.

About KeyCorp

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.