Ceredex Value Advisors LLC Sells 1,520,544 Shares of KeyCorp (NYSE:KEY)

Ceredex Value Advisors LLC trimmed its position in KeyCorp (NYSE:KEY) by 22.9% in the third quarter, HoldingsChannel reports. The firm owned 5,126,849 shares of the financial services provider’s stock after selling 1,520,544 shares during the quarter. KeyCorp accounts for about 1.7% of Ceredex Value Advisors LLC’s holdings, making the stock its 14th largest holding. Ceredex Value Advisors LLC’s holdings in KeyCorp were worth $85,875,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $25,000. Wolff Wiese Magana LLC grew its position in shares of KeyCorp by 285.5% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares during the period. Crewe Advisors LLC bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $32,000. Fidelis Capital Partners LLC bought a new position in shares of KeyCorp during the 1st quarter valued at approximately $39,000. Finally, Hexagon Capital Partners LLC grew its position in shares of KeyCorp by 189.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,311 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 1,513 shares during the period. 79.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KEY shares. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $17.00 in a research report on Monday, October 14th. UBS Group increased their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. Barclays raised their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Morgan Stanley raised their price objective on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Eight research analysts have rated the stock with a hold rating and eleven have issued 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 $17.79.

KeyCorp Stock Performance

KeyCorp stock opened at $17.19 on Friday. The firm’s fifty day moving average price is $16.80 and its 200-day moving average price is $15.51. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $16.21 billion, a P/E ratio of 1,719.00, a price-to-earnings-growth ratio of 0.95 and a beta of 1.24. KeyCorp has a fifty-two week low of $10.25 and a fifty-two week high of $17.94.

Insider Activity

In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the sale, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% 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.