KeyCorp (NYSE:KEY) Shares Sold by LSV Asset Management

LSV Asset Management reduced its stake in KeyCorp (NYSE:KEY - Free Report) by 67.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,723,983 shares of the financial services provider's stock after selling 5,647,972 shares during the period. LSV Asset Management owned approximately 0.29% of KeyCorp worth $39,225,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of KEY. Nisa Investment Advisors LLC boosted its stake in shares of KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider's stock worth $3,931,000 after purchasing an additional 21,395 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in KeyCorp by 35.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider's stock valued at $4,747,000 after acquiring an additional 86,579 shares during the period. Miller Howard Investments Inc. NY bought a new position in KeyCorp in the 4th quarter valued at $7,200,000. Fifth Third Bancorp lifted its position in shares of KeyCorp by 1.0% during the fourth quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider's stock worth $3,426,000 after purchasing an additional 2,344 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of KeyCorp by 44.1% during the fourth quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider's stock worth $23,186,000 after purchasing an additional 492,584 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on KEY. JPMorgan Chase & Co. raised their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a "neutral" rating in a report on Thursday, April 4th. DA Davidson dropped their target price on shares of KeyCorp from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, January 19th. Raymond James started coverage on shares of KeyCorp in a report on Monday, January 8th. They issued a "market perform" rating for the company. Jefferies Financial Group increased their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, April 8th. Finally, Argus boosted their price target on KeyCorp from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, April 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $15.71.

Insiders Place Their Bets

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the company's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now directly owns 98,120 shares of the company's stock, valued at $1,376,623.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the completion of the transaction, the insider now directly owns 98,120 shares in the company, valued at $1,376,623.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Douglas M. Schosser sold 3,326 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the sale, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,442 shares of company stock valued at $303,914. 0.67% of the stock is owned by insiders.

KeyCorp Stock Performance

Shares of KEY traded up $0.20 during trading hours on Monday, reaching $15.13. 10,938,441 shares of the company traded hands, compared to its average volume of 16,104,043. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The business has a fifty day moving average price of $14.84 and a 200-day moving average price of $13.76. KeyCorp has a 12-month low of $8.73 and a 12-month high of $15.86. The stock has a market capitalization of $14.27 billion, a P/E ratio of 19.15 and a beta of 1.28.

KeyCorp (NYSE:KEY - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm's revenue for the quarter was down 10.6% compared to the same quarter last year. Equities analysts anticipate that KeyCorp will post 1.15 EPS for the current fiscal year.

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.