KeyCorp (NYSE:KEY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in KeyCorp (NYSE:KEY) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,080,814 shares of the financial services provider’s stock after selling 6,906 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of KeyCorp worth $18,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KEY. Freestone Capital Holdings LLC purchased a new position in shares of KeyCorp during the 1st quarter worth $561,000. Assenagon Asset Management S.A. raised its stake in KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock worth $18,598,000 after purchasing an additional 610,688 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in KeyCorp by 14.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after purchasing an additional 85,052 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of KeyCorp in the 2nd quarter valued at approximately $981,000. Finally, Cetera Investment Advisers increased its holdings in shares of KeyCorp by 274.4% during the 1st quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after buying an additional 243,437 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the transaction, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This represents a 19.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Angela G. Mago sold 15,011 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the sale, the insider now owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. The trade was a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

KeyCorp Price Performance

Shares of NYSE KEY opened at $19.13 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 1,913.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24. The stock’s 50-day moving average is $17.11 and its two-hundred day moving average is $15.74. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.00.

KeyCorp (NYSE:KEY) last released its earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. Analysts forecast that KeyCorp will post 1.08 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on KEY. The Goldman Sachs Group set a $19.00 price objective on KeyCorp in a report on Thursday, October 17th. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Jefferies Financial Group boosted their price objective on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research note on Tuesday, September 10th. Finally, Citigroup downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.79.

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.