Vestmark Advisory Solutions Inc. Increases Holdings in KeyCorp (NYSE:KEY)

Vestmark Advisory Solutions Inc. increased its holdings in shares of KeyCorp (NYSE:KEY) by 243.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,689 shares of the financial services provider’s stock after purchasing an additional 26,728 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in KeyCorp were worth $672,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in KeyCorp by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 112,955,500 shares of the financial services provider’s stock worth $2,004,961,000 after buying an additional 415,547 shares in the last quarter. Invesco Ltd. lifted its holdings in KeyCorp by 2.3% in the 2nd quarter. Invesco Ltd. now owns 17,028,799 shares of the financial services provider’s stock worth $302,262,000 after buying an additional 381,757 shares in the last quarter. Bank of America Corp DE lifted its holdings in KeyCorp by 1.0% in the 2nd quarter. Bank of America Corp DE now owns 14,076,297 shares of the financial services provider’s stock worth $249,854,000 after buying an additional 142,938 shares in the last quarter. Northern Trust Corp lifted its holdings in KeyCorp by 1.1% in the 2nd quarter. Northern Trust Corp now owns 11,798,679 shares of the financial services provider’s stock worth $209,426,000 after buying an additional 133,547 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in KeyCorp by 3.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,685,052 shares of the financial services provider’s stock worth $136,410,000 after buying an additional 241,553 shares in the last quarter. 81.58% of the stock is owned by hedge funds and other institutional investors.

KEY has been the topic of a number of recent analyst reports. ValuEngine lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. BMO Capital Markets cut their price objective on shares of KeyCorp from $36.00 to $34.00 and set a “market perform” rating on the stock in a report on Wednesday, November 6th. UBS Group boosted their price objective on shares of KeyCorp from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley cut their price objective on shares of KeyCorp from $21.00 to $20.50 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Deutsche Bank lowered shares of KeyCorp from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $24.93.

In related news, CEO Beth E. Mooney sold 437,737 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $18.28, for a total transaction of $8,001,832.36. Following the sale, the chief executive officer now owns 1,662,612 shares in the company, valued at $30,392,547.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,515 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $18.07, for a total transaction of $171,936.05. Following the sale, the director now owns 70,640 shares in the company, valued at approximately $1,276,464.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 673,027 shares of company stock worth $12,352,973. 0.08% of the stock is owned by company insiders.

Shares of KeyCorp stock traded down $0.32 during trading on Wednesday, reaching $18.88. The company had a trading volume of 8,261,858 shares, compared to its average volume of 10,606,908. The company has a market cap of $19.07 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The firm’s fifty day moving average is $18.01 and its 200-day moving average is $17.36. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.89 and a current ratio of 0.91. KeyCorp has a fifty-two week low of $13.65 and a fifty-two week high of $19.48.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, October 17th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. On average, research analysts anticipate that KeyCorp will post 1.8 EPS for the current fiscal year.

KeyCorp Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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