Daiwa Securities Group Inc. Increases Stake in KeyCorp (NYSE:KEY)

Daiwa Securities Group Inc. grew its stake in KeyCorp (NYSE:KEY) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 84,852 shares of the financial services provider’s stock after buying an additional 4,896 shares during the quarter. Daiwa Securities Group Inc.’s holdings in KeyCorp were worth $1,222,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in KEY. Bruce G. Allen Investments LLC purchased a new position in shares of KeyCorp in the 4th quarter valued at about $26,000. Sound Income Strategies LLC boosted its stake in shares of KeyCorp by 3,600.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in KeyCorp during the third quarter worth approximately $28,000. Baldwin Brothers LLC MA purchased a new stake in KeyCorp during the fourth quarter worth approximately $35,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in KeyCorp by 195.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,763 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Up 0.6 %

NYSE:KEY opened at $14.73 on Wednesday. The firm has a market cap of $13.66 billion, a P/E ratio of 18.64 and a beta of 1.29. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The stock’s 50 day simple moving average is $14.72 and its 200-day simple moving average is $13.49. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. Equities analysts anticipate that KeyCorp will post 1.15 EPS for the current year.

Insider Activity

In other news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the transaction, the insider now owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the sale, the director now directly owns 81,622 shares in the company, valued at $1,161,481.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares in the company, valued at $3,056,331.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,442 shares of company stock valued at $303,914. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on KEY. Wedbush decreased their target price on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Jefferies Financial Group boosted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Piper Sandler boosted their target price on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Finally, Royal Bank of Canada boosted their target price on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, KeyCorp presently has an average rating of “Moderate Buy” and a consensus target price of $15.71.

KeyCorp Company 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.