Ledyard National Bank Reduces Position in KeyCorp (NYSE:KEY)

Ledyard National Bank decreased its holdings in shares of KeyCorp (NYSE:KEY) by 16.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 18,338 shares of the financial services provider’s stock after selling 3,726 shares during the quarter. Ledyard National Bank’s holdings in KeyCorp were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Ontario Teachers Pension Plan Board grew its holdings in shares of KeyCorp by 8.8% in the first quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock valued at $342,924,000 after purchasing an additional 1,748,633 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of KeyCorp by 12.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock valued at $288,403,000 after purchasing an additional 2,213,872 shares during the period. Earnest Partners LLC grew its holdings in shares of KeyCorp by 23.2% in the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after purchasing an additional 2,339,454 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of KeyCorp by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock valued at $149,299,000 after purchasing an additional 300,339 shares during the period. Finally, Ceredex Value Advisors LLC grew its holdings in shares of KeyCorp by 112.4% in the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after purchasing an additional 3,517,755 shares during the period. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KEY. Barclays increased their target price on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Jefferies Financial Group increased their target price on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Morgan Stanley increased their target price on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Evercore ISI increased their target price on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Eight 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, KeyCorp currently has a consensus rating of “Moderate Buy” and an average price target of $17.62.

Insider Activity at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now owns 46,864 shares of the company’s stock, valued at $759,665.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

KeyCorp Stock Up 0.5 %

Shares of NYSE:KEY opened at $17.17 on Wednesday. The firm’s 50 day moving average price is $16.67 and its 200 day moving average price is $15.38. The stock has a market cap of $16.19 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 0.97 and a beta of 1.25. KeyCorp has a fifty-two week low of $9.50 and a fifty-two week high of $17.94. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.09.

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.