Mitsubishi UFJ Trust & Banking Corp Boosts Position in KeyCorp $KEY

Mitsubishi UFJ Trust & Banking Corp raised its stake in KeyCorp (NYSE:KEY) by 3.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 410,069 shares of the financial services provider’s stock after buying an additional 13,308 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in KeyCorp were worth $7,143,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in shares of KeyCorp in the fourth quarter valued at approximately $476,000. New York State Common Retirement Fund increased its holdings in KeyCorp by 0.6% during the 1st quarter. New York State Common Retirement Fund now owns 550,759 shares of the financial services provider’s stock worth $8,807,000 after purchasing an additional 3,300 shares during the period. Signaturefd LLC raised its position in KeyCorp by 39.0% during the 1st quarter. Signaturefd LLC now owns 6,191 shares of the financial services provider’s stock valued at $99,000 after purchasing an additional 1,738 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of KeyCorp by 34.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock worth $42,000 after buying an additional 671 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of KeyCorp by 24.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 18,389 shares of the financial services provider’s stock worth $294,000 after buying an additional 3,666 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of KeyCorp in a research note on Friday, October 31st. Royal Bank Of Canada increased their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. raised their target price on shares of KeyCorp from $19.00 to $19.50 and gave the company a “neutral” rating in a research report on Friday, October 10th. Wells Fargo & Company upped their price target on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Finally, Jefferies Financial Group dropped their price objective on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, October 17th. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, KeyCorp has a consensus rating of “Hold” and an average price target of $20.75.

Insider Activity

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the sale, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

KeyCorp Price Performance

KEY opened at $17.62 on Monday. The firm has a market capitalization of $19.25 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The business’s 50-day moving average is $18.15 and its two-hundred day moving average is $17.60. KeyCorp has a 1 year low of $12.73 and a 1 year 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 company 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%. KeyCorp’s revenue was up 172.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) earnings per share. Research analysts anticipate that KeyCorp will post 1.5 earnings per share for the current fiscal year.

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.