Trexquant Investment LP purchased a new stake in KeyCorp (NYSE:KEY) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 196,090 shares of the financial services provider’s stock, valued at approximately $3,834,000.
Several other institutional investors have also made changes to their positions in the company. Boston Partners lifted its stake in shares of KeyCorp by 37.6% in the 4th quarter. Boston Partners now owns 26,045,044 shares of the financial services provider’s stock valued at $525,329,000 after purchasing an additional 7,123,113 shares during the last quarter. Bessemer Group Inc. lifted its stake in KeyCorp by 17.3% during the 4th quarter. Bessemer Group Inc. now owns 14,150,163 shares of the financial services provider’s stock worth $285,409,000 after acquiring an additional 2,084,290 shares in the last quarter. Geode Capital Management LLC lifted its stake in KeyCorp by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 11,450,725 shares of the financial services provider’s stock worth $230,468,000 after acquiring an additional 97,817 shares in the last quarter. Eaton Vance Management lifted its stake in KeyCorp by 77.6% during the 4th quarter. Eaton Vance Management now owns 11,100,824 shares of the financial services provider’s stock worth $223,904,000 after acquiring an additional 4,850,008 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in KeyCorp by 17.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 8,423,396 shares of the financial services provider’s stock worth $169,899,000 after acquiring an additional 1,222,838 shares in the last quarter. 81.74% of the stock is currently owned by institutional investors and hedge funds.
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Several equities analysts recently issued reports on the company. Deutsche Bank raised KeyCorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $23.00 to $24.00 in a research note on Thursday, January 25th. Oppenheimer reissued a “hold” rating on shares of KeyCorp in a research note on Monday, January 22nd. Sandler O’Neill reissued a “hold” rating and set a $21.50 target price on shares of KeyCorp in a research note on Friday, January 19th. DA Davidson increased their target price on KeyCorp to $26.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Vining Sparks reissued a “buy” rating and set a $25.00 target price on shares of KeyCorp in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $22.45.
KEY opened at $19.70 on Monday. KeyCorp has a one year low of $16.28 and a one year high of $22.40. The stock has a market capitalization of $20,914.77, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.99.
KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. KeyCorp had a return on equity of 11.03% and a net margin of 19.32%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. research analysts expect that KeyCorp will post 1.7 earnings per share for the current year.
In other news, insider Robert A. Deangelis sold 25,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $21.11, for a total value of $527,750.00. Following the transaction, the insider now owns 175,053 shares in the company, valued at approximately $3,695,368.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher M. Gorman sold 56,038 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $20.97, for a total value of $1,175,116.86. The disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.
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, as well as personal property and casualty insurance, such as home, auto, renters, watercraft, and umbrella insurance for individuals.