PL Capital Advisors LLC Purchases 98,000 Shares of KeyCorp (NYSE:KEY)

PL Capital Advisors LLC lifted its position in shares of KeyCorp (NYSE:KEY) by 178.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 152,900 shares of the financial services provider’s stock after buying an additional 98,000 shares during the quarter. KeyCorp comprises approximately 0.8% of PL Capital Advisors LLC’s investment portfolio, making the stock its 28th largest position. PL Capital Advisors LLC’s holdings in KeyCorp were worth $2,202,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KEY. Ontario Teachers Pension Plan Board purchased a new stake in KeyCorp in the third quarter worth approximately $274,773,000. Ceredex Value Advisors LLC purchased a new stake in KeyCorp in the fourth quarter worth approximately $64,421,000. FMR LLC boosted its holdings in KeyCorp by 14.4% in the third quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock worth $341,969,000 after purchasing an additional 3,992,226 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in KeyCorp by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 23,126,760 shares of the financial services provider’s stock worth $248,844,000 after purchasing an additional 3,216,584 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in KeyCorp by 844.4% in the third quarter. AQR Capital Management LLC now owns 3,160,631 shares of the financial services provider’s stock worth $34,008,000 after purchasing an additional 2,825,977 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 0.6 %

KEY opened at $14.70 on Friday. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 18.61 and a beta of 1.29. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. KeyCorp has a fifty-two week low of $8.53 and a fifty-two week high of $15.86. The firm’s fifty day moving average is $14.76 and its 200 day moving average is $13.56.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm earned $0.44 earnings per share. KeyCorp’s quarterly revenue was down 10.6% on a year-over-year basis. On average, sell-side analysts forecast that KeyCorp will post 1.15 earnings per share for the current fiscal year.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the transaction, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other KeyCorp news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total transaction of $48,487.20. Following the transaction, the insider now owns 214,630 shares in the company, valued at approximately $3,056,331.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,442 shares of company stock valued at $303,914. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KEY. Wedbush dropped their target price on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. JPMorgan Chase & Co. lifted their price target on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Argus lifted their price target on shares of KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Raymond James began coverage on shares of KeyCorp in a research note on Monday, January 8th. They set a “market perform” rating on the stock. Finally, Piper Sandler lifted their price target on shares of 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 assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average target price of $15.71.

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.