Addison Advisors LLC Grows Position in KeyCorp (NYSE:KEY)

Addison Advisors LLC increased its position in KeyCorp (NYSE:KEY) by 2,510.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,889 shares of the financial services provider’s stock after purchasing an additional 3,740 shares during the quarter. Addison Advisors LLC’s holdings in KeyCorp were worth $56,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in KEY. Bruce G. Allen Investments LLC purchased a new position in KeyCorp during the fourth quarter valued at $26,000. Sound Income Strategies LLC raised its stake in KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after buying an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in KeyCorp during the third quarter valued at $28,000. Baldwin Brothers LLC MA purchased a new position in KeyCorp during the fourth quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV raised its stake in KeyCorp by 195.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,763 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Performance

NYSE:KEY traded up $0.09 during mid-day trading on Friday, hitting $14.70. 11,793,143 shares of the company traded hands, compared to its average volume of 14,096,899. The stock’s fifty day moving average price is $14.76 and its 200-day moving average price is $13.56. KeyCorp has a one year low of $8.53 and a one year high of $15.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 18.61 and a beta of 1.29.

KeyCorp (NYSE:KEY) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the firm posted $0.44 EPS. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Research analysts anticipate that KeyCorp will post 1.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KEY. Argus lifted their price objective on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Royal Bank of Canada lifted their target price on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Piper Sandler lifted their target price on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. Wells Fargo & Company lifted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Jefferies Financial Group lifted their target price on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and an average target price of $15.71.

Insider Activity

In other news, CAO Douglas M. Schosser sold 3,326 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the transaction, the chief accounting officer now directly owns 19,795 shares in the company, valued at $277,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Douglas M. Schosser sold 3,326 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $14.00, for a total value of $46,564.00. Following the sale, the chief accounting officer now directly 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 is available through this link. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the sale, the insider now owns 214,630 shares in the company, valued at $3,056,331.20. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock worth $303,914 over the last ninety days. Corporate insiders own 0.61% of the company’s stock.

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.