Morgan Stanley Lowers KeyCorp (NYSE:KEY) Price Target to $22.00

KeyCorp (NYSE:KEY) had its price objective cut by equities researchers at Morgan Stanley from $23.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 24.47% from the company’s previous close.

KEY has been the topic of several other research reports. Baird R W downgraded KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Robert W. Baird lowered shares of KeyCorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Keefe, Bruyette & Woods lifted their price target on KeyCorp from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group increased their target price on KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, KeyCorp presently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $17.68 on Wednesday. The firm has a market capitalization of $17.52 billion, a price-to-earnings ratio of 1,767.50, a PEG ratio of 0.69 and a beta of 1.27. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a one year low of $13.10 and a one year high of $20.04. The company’s fifty day moving average price is $18.16 and its 200-day moving average price is $17.04.

Insider Transactions at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares of the company’s stock, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the transaction, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wolff Wiese Magana LLC raised its holdings in KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares during the period. American Capital Advisory LLC purchased a new position in KeyCorp in the 3rd quarter worth approximately $28,000. Larson Financial Group LLC boosted its stake in KeyCorp by 90.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,929 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 918 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in KeyCorp during the 3rd quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of KeyCorp during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.