US Bancorp DE Sells 41,192 Shares of KeyCorp $KEY

US Bancorp DE reduced its stake in KeyCorp (NYSE:KEY - Free Report) by 16.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,475 shares of the financial services provider's stock after selling 41,192 shares during the period. US Bancorp DE's holdings in KeyCorp were worth $3,562,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sequoia Financial Advisors LLC raised 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 worth $1,101,000 after buying an additional 3,145 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of KeyCorp during the first quarter valued at approximately $2,171,000. Signal Advisors Wealth LLC bought a new position in shares of KeyCorp during the second quarter valued at approximately $431,000. Gradient Investments LLC bought a new position in shares of KeyCorp during the second quarter valued at approximately $1,973,000. Finally, AQR Capital Management LLC increased its stake in shares of KeyCorp by 5.1% during 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 purchasing an additional 20,429 shares in the last quarter. 79.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on KEY shares. Baird R W downgraded shares of KeyCorp from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 2nd. DA Davidson raised their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Citigroup reaffirmed a "neutral" rating and set a $20.00 target price (up previously from $19.00) on shares of KeyCorp in a research note on Thursday, July 24th. Truist Financial raised their target price on shares of KeyCorp from $17.00 to $19.00 and gave the company a "hold" rating in a research note on Monday, July 28th. Finally, Royal Bank Of Canada raised their target price on shares of KeyCorp from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $20.86.

Insider Transactions at KeyCorp

In other news, CEO Christopher M. Gorman sold 112,149 shares of KeyCorp stock in a transaction on 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 trade represents a 15.32% decrease in their position. The sale was disclosed in a legal filing 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 owned 82,719 shares in the company, valued at $1,544,363.73. This represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,102 shares of company stock worth $3,299,664 in the last 90 days. 0.52% of the stock is currently owned by insiders.

KeyCorp Trading Up 2.2%

Shares of KEY stock opened at $17.58 on Tuesday. KeyCorp has a 12-month low of $12.73 and a 12-month high of $20.04. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.71. The firm's 50 day moving average is $18.57 and its 200 day moving average is $17.04. The stock has a market capitalization of $19.27 billion, a P/E ratio of -251.09, a P/E/G ratio of 0.55 and a beta of 1.15.

KeyCorp (NYSE:KEY - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. KeyCorp had a net margin of 1.49% and a return on equity of 9.65%. The company had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the company posted $0.25 earnings per share. The firm's quarterly revenue was up 20.6% on a year-over-year basis. Research analysts expect that KeyCorp will post 1.5 earnings per share for the current year.

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.

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