Sumitomo Mitsui DS Asset Management Company Ltd Sells 6,968 Shares of KeyCorp (NYSE:KEY)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in KeyCorp (NYSE:KEY) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,361 shares of the financial services provider’s stock after selling 6,968 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in KeyCorp were worth $2,237,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KEY. Ontario Teachers Pension Plan Board bought a new position in shares of KeyCorp in the third quarter valued at approximately $274,773,000. Ceredex Value Advisors LLC bought a new position in KeyCorp during the fourth quarter worth $64,421,000. FMR LLC increased its position in KeyCorp by 14.4% during the third quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock worth $341,969,000 after acquiring an additional 3,992,226 shares during the period. Charles Schwab Investment Management Inc. increased its position in KeyCorp by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock worth $248,844,000 after acquiring an additional 3,216,584 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of KeyCorp by 844.4% during the 3rd quarter. AQR Capital Management LLC now owns 3,160,631 shares of the financial services provider’s stock worth $34,008,000 after purchasing an additional 2,825,977 shares during the period. Institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Evercore ISI upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Royal Bank of Canada upped their price objective on shares of KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Jefferies Financial Group upped their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. One equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

Insider Activity

In other news, Director Trina M. Evans sold 12,335 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now directly owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the firm’s 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 transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the transaction, the director now directly owns 81,622 shares in the company, valued at $1,161,481.06. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 over the last three months. 0.61% of the stock is owned by insiders.

KeyCorp Stock Performance

NYSE KEY opened at $14.93 on Thursday. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 18.90 and a beta of 1.29. The company has a 50 day moving average of $14.74 and a 200-day moving average of $13.50. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86.

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