Sigma Planning Corp Sells 29,105 Shares of KeyCorp (NYSE:KEY)

Sigma Planning Corp lowered its stake in shares of KeyCorp (NYSE:KEY) by 52.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,527 shares of the financial services provider’s stock after selling 29,105 shares during the quarter. Sigma Planning Corp’s holdings in KeyCorp were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in KEY. Cornerstone Wealth Management LLC grew its holdings in KeyCorp by 6.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 732 shares during the period. UMB Bank n.a. grew its holdings in KeyCorp by 2.5% during the fourth quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 841 shares during the period. PL Capital Advisors LLC grew its holdings in KeyCorp by 1.7% during the third quarter. PL Capital Advisors LLC now owns 54,900 shares of the financial services provider’s stock worth $591,000 after acquiring an additional 900 shares during the period. AHL Investment Management Inc. grew its holdings in KeyCorp by 1.8% in the fourth quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 900 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in KeyCorp by 15.8% in the fourth quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock valued at $92,000 after purchasing an additional 901 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KeyCorp stock opened at $14.70 on Friday. KeyCorp has a one year low of $8.53 and a one year high of $15.86. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market cap of $13.63 billion, a price-to-earnings ratio of 18.61 and a beta of 1.29. The business’s 50 day moving average price is $14.76 and its 200 day moving average price is $13.54.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. KeyCorp’s revenue for the quarter was down 10.6% compared to the same quarter last year. On average, research analysts predict that KeyCorp will post 1.15 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on KEY. DA Davidson dropped their price objective on KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Jefferies Financial Group raised their price objective on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Wells Fargo & Company lifted their price target on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Piper Sandler lifted their price target on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy 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 $15.71.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now owns 98,120 shares in the company, valued at $1,376,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction 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 approximately $3,056,331.20. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock worth $303,914 over the last quarter. 0.61% of the stock is currently owned by company insiders.

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.