Callan Family Office LLC Acquires New Position in KeyCorp $KEY

Callan Family Office LLC purchased a new stake in shares of KeyCorp (NYSE:KEY - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,858 shares of the financial services provider's stock, valued at approximately $276,000.

A number of other institutional investors have also recently made changes to their positions in KEY. Price T Rowe Associates Inc. MD boosted its holdings in shares of KeyCorp by 40.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 50,954,013 shares of the financial services provider's stock worth $814,756,000 after buying an additional 14,651,281 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of KeyCorp by 7.2% in the first quarter. Vanguard Group Inc. now owns 125,345,385 shares of the financial services provider's stock worth $2,004,273,000 after buying an additional 8,412,625 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of KeyCorp by 1,142.4% in the first quarter. Wellington Management Group LLP now owns 5,001,779 shares of the financial services provider's stock worth $79,978,000 after buying an additional 4,599,197 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of KeyCorp in the first quarter worth approximately $60,194,000. Finally, Invesco Ltd. boosted its holdings in shares of KeyCorp by 19.5% in the first quarter. Invesco Ltd. now owns 20,623,929 shares of the financial services provider's stock worth $329,777,000 after buying an additional 3,363,421 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

KeyCorp Trading Down 5.4%

KEY stock opened at $16.78 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. KeyCorp has a twelve month low of $12.73 and a twelve month high of $20.04. The stock has a market capitalization of $18.40 billion, a price-to-earnings ratio of -239.71, a price-to-earnings-growth ratio of 0.56 and a beta of 1.15. The firm's fifty day simple moving average is $18.57 and its two-hundred day simple moving average is $17.06.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Thursday, October 16th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The business's revenue was up 172.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.47) earnings per share. As a group, analysts anticipate that KeyCorp will post 1.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Christopher M. Gorman sold 112,149 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.86, for a total transaction of $2,115,130.14. Following the transaction, the chief executive officer owned 619,895 shares in the company, valued at $11,691,219.70. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Andrew J. Paine III sold 44,953 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $19.29, for a total transaction of $867,143.37. Following the transaction, the insider owned 245,044 shares in the company, valued at approximately $4,726,898.76. This trade represents a 15.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 174,102 shares of company stock valued at $3,299,664 over the last three months. 0.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore ISI raised their target price on shares of KeyCorp from $21.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Royal Bank Of Canada lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, October 1st. Robert W. Baird downgraded shares of KeyCorp from an "outperform" rating to a "neutral" rating and set a $18.00 price target on the stock. in a report on Wednesday, July 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of KeyCorp in a report on Wednesday, October 8th. Finally, Baird R W downgraded shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 2nd. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, KeyCorp presently has an average rating of "Hold" and a consensus price target of $20.86.

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.

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