Sumitomo Mitsui Trust Group Inc. Has $35.19 Million Stake in KeyCorp (NYSE:KEY)

Sumitomo Mitsui Trust Group Inc. cut its position in KeyCorp (NYSE:KEY) by 0.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,101,067 shares of the financial services provider’s stock after selling 4,184 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.22% of KeyCorp worth $35,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its holdings in shares of KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,142 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in KeyCorp in the first quarter valued at about $25,000. American Capital Advisory LLC bought a new position in KeyCorp in the third quarter valued at about $28,000. Crewe Advisors LLC acquired a new position in KeyCorp during the first quarter worth about $32,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of KeyCorp in the third quarter worth about $35,000. Institutional investors own 79.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KEY. Jefferies Financial Group upped their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Evercore ISI boosted their price objective on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Citigroup lowered KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Thursday, November 7th. Finally, Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.03.

KeyCorp Price Performance

Shares of KEY opened at $19.16 on Friday. The firm has a market cap of $18.99 billion, a PE ratio of 1,916.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00. The business’s 50 day moving average price is $17.23 and its two-hundred day moving average price is $15.80. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. On average, equities analysts anticipate that KeyCorp will post 1.09 EPS for the current year.

Insider Activity at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.