Benjamin F. Edwards & Company Inc. Boosts Stake in KeyCorp (NYSE:KEY)

Benjamin F. Edwards & Company Inc. grew its stake in shares of KeyCorp (NYSE:KEY) by 61.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 43,752 shares of the financial services provider’s stock after buying an additional 16,732 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in KeyCorp were worth $630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KEY. Cornerstone Wealth Management LLC boosted its holdings in KeyCorp by 6.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 12,337 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 732 shares during the period. UMB Bank n.a. boosted its position in KeyCorp by 2.5% in the 4th quarter. UMB Bank n.a. now owns 34,090 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 841 shares in the last quarter. PL Capital Advisors LLC grew its holdings in KeyCorp by 1.7% in the third quarter. PL Capital Advisors LLC now owns 54,900 shares of the financial services provider’s stock valued at $591,000 after purchasing an additional 900 shares during the period. AHL Investment Management Inc. raised its position in shares of KeyCorp by 1.8% during the 4th quarter. AHL Investment Management Inc. now owns 51,288 shares of the financial services provider’s stock worth $739,000 after purchasing an additional 900 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of KeyCorp by 15.8% during the fourth quarter. Global Retirement Partners LLC now owns 6,592 shares of the financial services provider’s stock worth $92,000 after buying an additional 901 shares in the last quarter. 79.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KEY has been the topic of a number of research analyst reports. DA Davidson reduced their price target on shares of KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Royal Bank of Canada increased their price objective on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. Jefferies Financial Group lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Wedbush lowered their price objective on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Price Performance

Shares of NYSE KEY opened at $14.94 on Wednesday. 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 firm has a market cap of $14.09 billion, a price-to-earnings ratio of 18.91 and a beta of 1.28. KeyCorp has a 1-year low of $8.73 and a 1-year high of $15.86. The stock has a fifty day simple moving average of $14.86 and a two-hundred day simple moving average of $13.79.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share 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 company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the firm earned $0.44 EPS. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. Analysts anticipate that KeyCorp will post 1.15 earnings per share for the current year.

Insider Activity at KeyCorp

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