Xponance Inc. Cuts Stock Holdings in KeyCorp (NYSE:KEY)

Xponance Inc. trimmed its holdings in shares of KeyCorp (NYSE:KEY) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 119,655 shares of the financial services provider’s stock after selling 12,728 shares during the period. Xponance Inc.’s holdings in KeyCorp were worth $1,723,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of KeyCorp by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after purchasing an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of KeyCorp by 35.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after purchasing an additional 86,579 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in shares of KeyCorp during the fourth quarter worth about $7,200,000. Fifth Third Bancorp boosted its holdings in shares of KeyCorp by 1.0% during the fourth quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock worth $3,426,000 after purchasing an additional 2,344 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 3,216,584 shares during the period. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KeyCorp

In related 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 transaction of $48,487.20. Following the completion of the sale, the insider now 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 Securities & Exchange Commission, which is available through this hyperlink. In related 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 sale, the insider now owns 214,630 shares in the company, valued at $3,056,331.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the sale, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders sold 21,442 shares of company stock valued at $303,914 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $14.73 on Wednesday. The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 18.64 and a beta of 1.29. 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 50 day simple moving average of $14.72 and a two-hundred day simple moving average of $13.49. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results 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). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. KeyCorp’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. Analysts expect that KeyCorp will post 1.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KEY shares. JPMorgan Chase & Co. increased their target price on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. DA Davidson decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, January 19th. Wells Fargo & Company increased their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Morgan Stanley increased their price target on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Barclays decreased their price target on shares of KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.71.

About KeyCorp

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.