Angela Mago Sells 22,826 Shares of KeyCorp (NYSE:KEY) Stock

KeyCorp (NYSE:KEY) insider Angela Mago sold 22,826 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.66, for a total transaction of $494,411.16. Following the completion of the transaction, the insider owned 281,564 shares in the company, valued at approximately $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

KeyCorp Stock Performance

Shares of KeyCorp stock traded down $0.04 during trading hours on Tuesday, reaching $21.28. The company’s stock had a trading volume of 9,024,470 shares, compared to its average volume of 15,266,569. The company’s 50 day simple moving average is $20.72 and its 200 day simple moving average is $20.32. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. KeyCorp has a one year low of $15.28 and a one year high of $23.34. The stock has a market cap of $23.07 billion, a P/E ratio of 13.05, a price-to-earnings-growth ratio of 0.69 and a beta of 1.06.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. KeyCorp had a net margin of 17.03% and a return on equity of 10.80%. KeyCorp’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. As a group, analysts expect that KeyCorp will post 1.82 EPS for the current fiscal year.

Institutional Trading of KeyCorp

A number of hedge funds and other institutional investors have recently made changes to their positions in KEY. Wellington Management Group LLP raised its position in shares of KeyCorp by 90.2% during the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock worth $679,768,000 after buying an additional 17,245,128 shares in the last quarter. Capital World Investors raised its position in shares of KeyCorp by 169.2% during the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock worth $388,546,000 after buying an additional 13,067,326 shares in the last quarter. Norges Bank bought a new stake in shares of KeyCorp during the 4th quarter worth about $262,688,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of KeyCorp during the 4th quarter worth about $150,843,000. Finally, AQR Capital Management LLC raised its position in shares of KeyCorp by 416.3% during the 4th quarter. AQR Capital Management LLC now owns 7,163,851 shares of the financial services provider’s stock worth $147,862,000 after buying an additional 5,776,417 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KEY. Evercore reissued an “outperform” rating on shares of KeyCorp in a research note on Tuesday, April 21st. Robert W. Baird boosted their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, April 17th. Royal Bank Of Canada boosted their target price on shares of KeyCorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Weiss Ratings raised shares of KeyCorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group boosted their target price on shares of KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Friday, April 17th. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and a consensus target price of $23.18.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.