Western Wealth Management LLC Reduces Holdings in KeyCorp (NYSE:KEY)

Western Wealth Management LLC decreased its stake in shares of KeyCorp (NYSE:KEY) by 4.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 84,070 shares of the financial services provider’s stock after selling 3,459 shares during the period. Western Wealth Management LLC’s holdings in KeyCorp were worth $1,211,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its holdings in KeyCorp by 6.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 84,852 shares of the financial services provider’s stock worth $1,222,000 after purchasing an additional 4,896 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in KeyCorp during the 4th quarter worth about $56,000. TRUE Private Wealth Advisors lifted its holdings in KeyCorp by 3.0% during the 4th quarter. TRUE Private Wealth Advisors now owns 80,580 shares of the financial services provider’s stock worth $1,160,000 after purchasing an additional 2,380 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in KeyCorp by 102.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 602,340 shares of the financial services provider’s stock worth $8,674,000 after purchasing an additional 304,205 shares in the last quarter. Finally, SVB Wealth LLC lifted its holdings in KeyCorp by 18.2% during the 4th quarter. SVB Wealth LLC now owns 11,961 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 1,840 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the sale, the director now owns 81,622 shares in the company, valued at approximately $1,161,481.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Douglas M. Schosser sold 3,326 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 19,795 shares in the company, valued at $277,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Trina M. Evans sold 12,335 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the transaction, the director now owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,442 shares of company stock worth $303,914. 0.61% of the stock is currently owned by company insiders.

KeyCorp Trading Up 1.7 %

Shares of KEY stock opened at $14.63 on Friday. The stock has a market capitalization of $13.57 billion, a PE ratio of 18.52 and a beta of 1.29. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86. The business has a 50-day moving average of $14.69 and a 200 day moving average of $13.38. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.86.

KeyCorp (NYSE:KEY) last issued its earnings results on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the company earned $0.44 earnings per share. The company’s revenue was down 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that KeyCorp will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

KEY has been the topic of a number of research analyst reports. Raymond James initiated coverage on KeyCorp in a research note on Monday, January 8th. They issued a “market perform” rating on the stock. Wedbush decreased their target price on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Royal Bank of Canada upped their target price on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley upped their target price on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Piper Sandler upped their target price on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp 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.