Atria Wealth Solutions Inc. Sells 23,723 Shares of KeyCorp $KEY

Key Points

• Atria Wealth Solutions Inc. reduced its stake in KeyCorp by 60.4%, selling 23,723 shares and now owning 15,565 shares valued at approximately $271,000.
• KeyCorp reported $0.41 earnings per share for the latest quarter, surpassing analysts' expectations of $0.38, with a revenue increase of 172.7% year-over-year.
• Analysts have mixed ratings for KeyCorp, with ten advising a Buy, ten a Hold, and one a Sell, while the average price target stands at $20.75.

Atria Wealth Solutions Inc. lowered its stake in KeyCorp (NYSE:KEY - Free Report) by 60.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,565 shares of the financial services provider's stock after selling 23,723 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in KeyCorp were worth $271,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its stake in KeyCorp by 4.8% in the first quarter. Sequoia Financial Advisors LLC now owns 68,857 shares of the financial services provider's stock valued at $1,101,000 after buying an additional 3,145 shares in the last quarter. Teacher Retirement System of Texas bought a new position in KeyCorp in the first quarter valued at approximately $2,171,000. Signal Advisors Wealth LLC bought a new position in KeyCorp in the second quarter valued at approximately $431,000. Gradient Investments LLC bought a new position in KeyCorp in the second quarter valued at approximately $1,973,000. Finally, AQR Capital Management LLC lifted its stake in KeyCorp by 5.1% in the first quarter. AQR Capital Management LLC now owns 417,667 shares of the financial services provider's stock valued at $6,495,000 after buying an additional 20,429 shares in the last quarter. Institutional investors own 79.69% of the company's stock.

KeyCorp Price Performance

NYSE:KEY opened at $17.55 on Wednesday. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $18.55 and a 200 day simple moving average of $17.12. The stock has a market capitalization of $19.24 billion, a PE ratio of 21.66, a P/E/G ratio of 0.55 and a beta of 1.15.

KeyCorp (NYSE:KEY - Get Free Report) last released its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The business had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the business earned ($0.47) earnings per share. The firm's revenue was up 172.7% on a year-over-year basis. On average, research analysts expect that KeyCorp will post 1.5 EPS for the current fiscal year.

Insider Buying and Selling at KeyCorp

In other KeyCorp news, insider Andrew J. Paine III sold 44,953 shares of KeyCorp stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares of the company's stock, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Trina M. Evans sold 17,000 shares of KeyCorp stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $18.67, for a total transaction of $317,390.00. Following the transaction, the director directly owned 82,719 shares of the company's stock, valued at approximately $1,544,363.73. This trade represents a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.52% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KEY shares. Baird R W downgraded shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Jefferies Financial Group lowered their price objective on shares of KeyCorp from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of KeyCorp from $19.00 to $19.50 and gave the company a "neutral" rating in a report on Friday, October 10th. DA Davidson lowered their price objective on shares of KeyCorp from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Friday, October 17th. Finally, Wells Fargo & Company lifted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, October 3rd. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, KeyCorp currently has an average rating of "Hold" and an average price target of $20.75.

KeyCorp Company 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.

Want to see what other hedge funds are holding KEY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KeyCorp (NYSE:KEY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.