KeyCorp $KEY Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group trimmed its KeyCorp stake by 2.6%, selling 53,438 shares and leaving it with 2,040,294 shares (about 0.19% ownership) worth roughly $42.1 million at quarter-end.
• Insiders sold a total of 161,506 shares worth about $3.6 million in the last three months, cutting insider ownership to approximately 0.56%.
• Analyst sentiment is modestly positive with a consensus rating of Moderate Buy and a $22.61 average price target, while upcoming Q1 results (loan growth, net interest income and trading/IB fees) are the primary near-term catalyst.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of KeyCorp (NYSE:KEY - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040,294 shares of the financial services provider's stock after selling 53,438 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of KeyCorp worth $42,112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. United Community Bank purchased a new position in KeyCorp during the 3rd quarter valued at about $27,000. Maseco LLP purchased a new position in KeyCorp during the 4th quarter valued at about $27,000. GoalVest Advisory LLC purchased a new position in KeyCorp during the 4th quarter valued at about $30,000. Sachetta LLC grew its stake in KeyCorp by 1,246.1% during the 3rd quarter. Sachetta LLC now owns 1,723 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 1,595 shares in the last quarter. Finally, Kelleher Financial Advisors purchased a new position in KeyCorp during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 79.69% of the company's stock.

Insider Transactions at KeyCorp

In other news, Director Trina M. Evans sold 32,695 shares of the company's stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.74, for a total transaction of $710,789.30. Following the completion of the transaction, the director directly owned 58,719 shares in the company, valued at $1,276,551.06. The trade was a 35.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Paine III sold 65,961 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $23.23, for a total value of $1,532,274.03. Following the transaction, the insider owned 166,583 shares of the company's stock, valued at approximately $3,869,723.09. This trade represents a 28.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 161,506 shares of company stock worth $3,597,481 over the last three months. 0.56% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KEY shares. Morgan Stanley lowered their target price on KeyCorp from $26.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 31st. Barclays lifted their target price on KeyCorp from $20.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, January 5th. Evercore lowered their target price on KeyCorp from $26.00 to $24.00 and set an "outperform" rating on the stock in a research note on Monday, April 6th. Keefe, Bruyette & Woods boosted their price target on KeyCorp from $21.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company set a $18.00 price target on KeyCorp and gave the company an "underperform" rating in a research note on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.61.

Key Headlines Impacting KeyCorp

Here are the key news stories impacting KeyCorp this week:

• Positive Sentiment: Analysts expect loan growth, rising fee income and stronger trading/IB activity to help Q1 results and support NII, which could lift revenue and EPS if realized. Loan Growth, Fee Income Strength Likely to Aid KeyCorp's Q1 Earnings
• Positive Sentiment: KeyBank is rolling out virtual commercial card issuing to compete with fintechs — a product push that can deepen corporate client relationships and fee revenue over time. KeyBank adds virtual commerce cards to ward off fintechs
• Positive Sentiment: New homebuyer support programs and consumer education from KeyBank may boost deposits and cross-sell opportunities in mortgage-adjacent segments, aiding long-term growth and investor sentiment. KeyCorp Homebuyer Support Efforts Meet Investor Focus On Valuation And Growth
• Neutral Sentiment: Street coverage is modestly positive: KeyCorp carries an average analyst recommendation of “Moderate Buy,” which could limit downside but also caps surprise upside absent a strong beat. KeyCorp NYSE: KEY Given Average Recommendation of "Moderate Buy" by Analysts
• Neutral Sentiment: KeyCorp reports Q1 this week; previews highlight NII, loan growth, trading/IB fees and mortgage weakness as key metrics to watch — the print will be the primary near-term catalyst. KeyCorp (KEY) Q1 Earnings Report Preview: What To Look For
• Negative Sentiment: Investors and analysts are scrutinizing Q1 loan growth for sustainability and credit quality; any sign of weaker-than-expected loan origination or higher provisions would likely pressure the stock. All eyes on KeyCorp earnings as Q1 loan growth faces scrutiny
• Negative Sentiment: Recent beats from peers (M&T, Bank of America) set a high bar; sector outperformance by peers can weigh on KeyCorp if its results or guidance disappoint. M&T Bank Corporation (MTB) Q1 Earnings and Revenues Surpass Estimates BAC Stock Gains as Q1 Earnings Beat on NII, Trading & IB Strength
• Negative Sentiment: Mortgage weakness and rising expenses flagged across regional banks could limit upside to revenue and margins for KeyCorp if those trends continue. Rise in Fee Income to Aid RF's Q1 Earnings, Lower NII to Ail

KeyCorp Stock Down 0.3%

Shares of KeyCorp stock opened at $21.57 on Thursday. The stock has a market capitalization of $23.14 billion, a P/E ratio of 14.19, a PEG ratio of 0.71 and a beta of 1.07. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $20.77 and a two-hundred day moving average price of $19.87. KeyCorp has a 12-month low of $13.68 and a 12-month high of $23.34.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.02. KeyCorp had a return on equity of 10.28% and a net margin of 15.97%.The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The company's quarterly revenue was up 131.8% compared to the same quarter last year. Equities analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

KeyCorp Company Profile

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank's offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company's product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.

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