KeyCorp (NYSE:KEY) Shares Sold by Palouse Capital Management Inc.

Palouse Capital Management Inc. lessened its position in shares of KeyCorp (NYSE:KEY) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 178,969 shares of the financial services provider’s stock after selling 1,740 shares during the quarter. KeyCorp accounts for 1.9% of Palouse Capital Management Inc.’s portfolio, making the stock its 20th largest position. Palouse Capital Management Inc.’s holdings in KeyCorp were worth $2,998,000 at the end of the most recent reporting period.

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

KeyCorp Stock Down 1.2 %

KeyCorp stock traded down $0.20 during trading on Monday, reaching $17.15. The stock had a trading volume of 4,396,533 shares, compared to its average volume of 14,318,073. KeyCorp has a 52-week low of $9.50 and a 52-week high of $17.94. The business has a 50 day moving average price of $16.61 and a 200 day moving average price of $15.35. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock has a market cap of $16.18 billion, a PE ratio of 1,715.00, a P/E/G ratio of 0.97 and a beta of 1.25.

KeyCorp (NYSE:KEY) last issued 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 firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. On average, analysts predict that KeyCorp will post 1.08 EPS for the current year.

Analysts Set New Price Targets

KEY has been the subject of several research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. Barclays boosted their target price on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday. The Goldman Sachs Group set a $19.00 price objective on KeyCorp in a research report on Thursday. Royal Bank of Canada raised their target price on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Baird R W cut shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.62.

Insider Activity

In related news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.61% 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.