Washington Capital Management Inc. Purchases 4,800 Shares of KeyCorp (NYSE:KEY)

Washington Capital Management Inc. grew its position in shares of KeyCorp (NYSE:KEY) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,180 shares of the financial services provider’s stock after purchasing an additional 4,800 shares during the quarter. KeyCorp makes up about 1.2% of Washington Capital Management Inc.’s investment portfolio, making the stock its 12th largest position. Washington Capital Management Inc.’s holdings in KeyCorp were worth $1,494,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ceredex Value Advisors LLC boosted its holdings in KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after acquiring an additional 3,517,755 shares during the period. Westfield Capital Management Co. LP purchased a new stake in KeyCorp in the 1st quarter worth approximately $42,857,000. National Bank of Canada FI lifted its holdings in KeyCorp by 1,051.3% in the 1st quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock worth $38,752,000 after buying an additional 2,346,565 shares during the period. Point72 Asset Management L.P. purchased a new stake in KeyCorp in the 2nd quarter worth approximately $33,273,000. Finally, Earnest Partners LLC lifted its holdings in KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock worth $176,631,000 after buying an additional 2,339,454 shares during the period. 79.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KEY. DA Davidson increased their price objective on KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $17.00 in a report on Monday. Morgan Stanley raised their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Citigroup raised their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Baird R W cut KeyCorp from a “strong-buy” rating to a “hold” rating in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.21.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Stock Up 1.1 %

KEY stock traded up $0.19 on Tuesday, reaching $17.59. 7,312,221 shares of the company traded hands, compared to its average volume of 14,367,055. The company has a market cap of $16.58 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 0.94 and a beta of 1.25. The firm has a fifty day simple moving average of $16.37 and a 200-day simple moving average of $15.30. KeyCorp has a one year low of $9.50 and a one year high of $17.94. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last posted its earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a return on equity of 8.64% and a net margin of 7.35%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. Research analysts anticipate that KeyCorp will post 1.08 earnings per share for the current year.

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.