Forum Financial Management LP Purchases 5,638 Shares of KeyCorp $KEY

Forum Financial Management LP increased its position in shares of KeyCorp (NYSE:KEY) by 20.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,674 shares of the financial services provider’s stock after purchasing an additional 5,638 shares during the quarter. Forum Financial Management LP’s holdings in KeyCorp were worth $569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC bought a new position in shares of KeyCorp in the fourth quarter worth about $476,000. GAMMA Investing LLC lifted its holdings in shares of KeyCorp by 9.6% in the first quarter. GAMMA Investing LLC now owns 33,339 shares of the financial services provider’s stock worth $533,000 after acquiring an additional 2,926 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of KeyCorp by 50.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 154,069 shares of the financial services provider’s stock worth $2,464,000 after acquiring an additional 51,618 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of KeyCorp by 31.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 111,757 shares of the financial services provider’s stock worth $1,787,000 after acquiring an additional 26,615 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of KeyCorp by 4.2% in the first quarter. Asset Management One Co. Ltd. now owns 379,514 shares of the financial services provider’s stock worth $6,068,000 after acquiring an additional 15,367 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

KEY has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on shares of KeyCorp from $20.50 to $21.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of KeyCorp in a report on Wednesday, October 8th. Evercore ISI increased their target price on shares of KeyCorp from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Jefferies Financial Group dropped their target price on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating for the company in a report on Friday, October 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of KeyCorp from $19.00 to $19.50 and gave the stock a “neutral” rating in a report on Friday, October 10th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, KeyCorp has an average rating of “Hold” and a consensus price target of $20.75.

KeyCorp Stock Performance

KeyCorp stock opened at $17.83 on Friday. The business has a 50 day moving average of $18.52 and a 200-day moving average of $17.19. 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 current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $19.55 billion, a P/E ratio of 22.02, a P/E/G ratio of 0.53 and a beta of 1.15.

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

Insiders Place Their Bets

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were 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. This represents a 15.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

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.