Sanctuary Advisors LLC Buys New Position in KeyCorp (NYSE:KEY)

Sanctuary Advisors LLC purchased a new position in shares of KeyCorp (NYSE:KEY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 57,517 shares of the financial services provider’s stock, valued at approximately $845,000.

Other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of KeyCorp in the 1st quarter valued at $25,000. Crewe Advisors LLC purchased a new stake in shares of KeyCorp in the first quarter valued at about $32,000. Quarry LP acquired a new stake in shares of KeyCorp during the fourth quarter worth about $38,000. Fidelis Capital Partners LLC purchased a new position in shares of KeyCorp during the first quarter worth about $39,000. Finally, Centerpoint Advisors LLC increased its position in KeyCorp by 127.7% in the 1st quarter. Centerpoint Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 2,107 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Evercore ISI boosted their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $15.00 in a report on Monday, July 8th. Finally, Wedbush increased their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.22.

KeyCorp Trading Up 2.3 %

NYSE:KEY opened at $17.22 on Friday. KeyCorp has a 52-week low of $9.50 and a 52-week high of $17.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.37. The stock has a fifty day simple moving average of $16.30 and a 200-day simple moving average of $15.29. The company has a market capitalization of $16.24 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 earnings per share. On average, equities research analysts expect that KeyCorp will post 1.08 earnings per share for the current fiscal year.

KeyCorp Company 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.