Ninety One SA Pty Ltd Sells 430,088 Shares of KeyCorp $KEY

Key Points

• Ninety One SA Pty Ltd cut its KeyCorp stake by 98% in the third quarter, selling 430,088 shares and retaining 8,578 shares valued at approximately $173,000.
• KeyCorp shares recently rose 1.4% to $20.07, while institutional investors collectively own 79.69% of the stock. The company has a market capitalization of about $21.4 billion.
• KeyCorp’s latest quarterly earnings exceeded expectations, with EPS of $0.44 versus the $0.42 consensus, and revenue increased 6.7% year over year. Analysts maintain a Moderate Buy consensus rating.

Ninety One SA Pty Ltd lowered its position in KeyCorp (NYSE:KEY - Free Report) by 98.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 8,578 shares of the financial services provider's stock after selling 430,088 shares during the period. Ninety One SA Pty Ltd's holdings in KeyCorp were worth $173,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of KEY. Krilogy Financial LLC raised its stake in KeyCorp by 7.0% during the third quarter. Krilogy Financial LLC now owns 10,927 shares of the financial services provider's stock worth $220,000 after buying an additional 713 shares during the last quarter. Lineweaver Wealth Advisors LLC boosted its position in KeyCorp by 17.1% during the third quarter. Lineweaver Wealth Advisors LLC now owns 10,740 shares of the financial services provider's stock valued at $216,000 after acquiring an additional 1,568 shares during the last quarter. Sax Wealth Advisors LLC boosted its position in KeyCorp by 14.2% during the third quarter. Sax Wealth Advisors LLC now owns 26,539 shares of the financial services provider's stock valued at $533,000 after acquiring an additional 3,302 shares during the last quarter. GK Wealth Management LLC bought a new stake in KeyCorp during the third quarter valued at $30,000. Finally, Wedmont Private Capital grew its holdings in KeyCorp by 6.0% during the 3rd quarter. Wedmont Private Capital now owns 25,570 shares of the financial services provider's stock worth $514,000 after acquiring an additional 1,448 shares during the period. 79.69% of the stock is owned by institutional investors.

KeyCorp Stock Up 1.4%

Shares of KEY traded up $0.28 during trading hours on Thursday, hitting $20.07. The stock had a trading volume of 12,183,990 shares, compared to its average volume of 13,587,629. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $21.38 and a 200-day simple moving average of $21.82. The firm has a market capitalization of $21.42 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 0.75 and a beta of 1.08. KeyCorp has a 1-year low of $16.47 and a 1-year high of $24.07.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the company posted $0.35 EPS. The firm's revenue was up 6.7% compared to the same quarter last year. Sell-side analysts predict that KeyCorp will post 1.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KEY. UBS Group dropped their price objective on KeyCorp from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, October 5th. DA Davidson reaffirmed a "buy" rating and set a $28.00 target price on shares of KeyCorp in a research note on Wednesday, July 22nd. Morgan Stanley lifted their target price on KeyCorp from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Truist Financial dropped their price target on KeyCorp from $24.00 to $23.00 and set a "hold" rating on the stock in a research note on Wednesday, September 23rd. Finally, Royal Bank Of Canada increased their price target on KeyCorp from $24.00 to $25.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.33.

KeyCorp Company Profile

KeyCorp NYSE: KEY is a financial services company headquartered in Cleveland, Ohio, and the parent company of KeyBank National Association. Through KeyBank, the company provides banking and financial services to individuals, families, businesses, institutions and government entities.

KeyBank's offerings include consumer and business deposit accounts, residential and commercial lending, mortgage and home equity products, credit cards, payments services, treasury management, wealth management and investment services.

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