Auxano Advisors LLC Trims Stock Position in KeyCorp $KEY

Auxano Advisors LLC trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 13.2% in the second quarter, HoldingsChannel reports. The firm owned 39,382 shares of the financial services provider’s stock after selling 5,984 shares during the period. Auxano Advisors LLC’s holdings in KeyCorp were worth $686,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Activest Wealth Management increased its position in KeyCorp by 8,775.0% during the second quarter. Activest Wealth Management now owns 1,420 shares of the financial services provider’s stock worth $25,000 after buying an additional 1,404 shares in the last quarter. Tompkins Financial Corp purchased a new stake in shares of KeyCorp in the second quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new stake in shares of KeyCorp during the first quarter valued at $28,000. Concord Wealth Partners boosted its stake in shares of KeyCorp by 71.5% during the second quarter. Concord Wealth Partners now owns 2,183 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 910 shares during the last quarter. Finally, Fourth Dimension Wealth LLC increased its position in KeyCorp by 45.5% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 2,400 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 750 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on KEY. Jefferies Financial Group reduced their target price on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Royal Bank Of Canada upped their price objective on shares of KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Truist Financial decreased their target price on shares of KeyCorp from $20.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, October 17th. Finally, Morgan Stanley lifted their target price on shares of KeyCorp from $20.00 to $24.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.75.

Insider Transactions at KeyCorp

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 completion of the sale, the insider owned 245,044 shares of the company’s stock, valued at approximately $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.52% of the company’s stock.

KeyCorp Price Performance

KeyCorp stock opened at $17.35 on Thursday. KeyCorp has a 1 year low of $12.73 and a 1 year high of $20.04. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50 day moving average price of $18.03 and a 200 day moving average price of $17.63. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 0.52 and a beta of 1.18.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the business earned ($0.47) EPS. KeyCorp’s revenue for the quarter was up 172.7% on a year-over-year basis. Sell-side analysts predict that KeyCorp will post 1.5 earnings per share for the current year.

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.