Yousif Capital Management LLC Lowers Position in KeyCorp $KEY

Yousif Capital Management LLC trimmed its stake in KeyCorp (NYSE:KEY) by 2.7% in the second quarter, Holdings Channel.com reports. The firm owned 127,921 shares of the financial services provider’s stock after selling 3,543 shares during the quarter. Yousif Capital Management LLC’s holdings in KeyCorp were worth $2,228,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its holdings in KeyCorp by 4.8% in the first quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider’s stock valued at $1,101,000 after purchasing an additional 3,145 shares during the period. Teacher Retirement System of Texas purchased a new stake in KeyCorp in the first quarter valued at approximately $2,171,000. Signal Advisors Wealth LLC purchased a new stake in KeyCorp in the second quarter valued at approximately $431,000. Gradient Investments LLC purchased a new stake in KeyCorp in the second quarter valued at approximately $1,973,000. Finally, AQR Capital Management LLC lifted its position in KeyCorp by 5.1% during the first quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider’s stock valued at $6,495,000 after buying an additional 20,429 shares in the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KEY. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research note on Wednesday, July 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of KeyCorp in a research note on Wednesday, October 8th. Jefferies Financial Group decreased their price objective on shares of KeyCorp from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price objective on shares of KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Finally, UBS Group boosted their price objective on shares of KeyCorp from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.86.

KeyCorp Price Performance

Shares of KEY stock opened at $16.96 on Friday. The company has a market capitalization of $18.60 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.54 and a beta of 1.15. The firm has a fifty day simple moving average of $18.56 and a 200-day simple moving average of $17.07. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The business’s quarterly revenue was up 172.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.47) earnings per share. Equities research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Andrew J. Paine III sold 44,953 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total value of $867,143.37. Following the sale, the insider directly owned 245,044 shares of the company’s stock, valued at $4,726,898.76. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Trina M. Evans sold 17,000 shares of the company’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $18.67, for a total transaction of $317,390.00. Following the completion of the sale, the director directly owned 82,719 shares in the company, valued at $1,544,363.73. This represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 174,102 shares of company stock worth $3,299,664. 0.52% of the stock is currently owned by company insiders.

KeyCorp 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.