Sumitomo Mitsui Trust Group Inc. Lowers Stock Position in KeyCorp (NYSE:KEY)

Sumitomo Mitsui Trust Group Inc. cut its position in shares of KeyCorp (NYSE:KEY) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,101,067 shares of the financial services provider’s stock after selling 4,184 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in KeyCorp were worth $35,193,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC increased its position in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp during the 1st quarter worth $25,000. American Capital Advisory LLC purchased a new position in shares of KeyCorp in the 3rd quarter worth about $28,000. Crewe Advisors LLC bought a new position in KeyCorp during the first quarter valued at about $32,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in KeyCorp during the third quarter worth about $35,000. Institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of KeyCorp from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday. DA Davidson increased their target price on shares of KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Jefferies Financial Group boosted their price target on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Barclays raised their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Evercore ISI boosted their target price on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.03.

KeyCorp Trading Up 0.1 %

Shares of KEY opened at $19.16 on Friday. KeyCorp has a 1-year low of $11.64 and a 1-year high of $20.00. The company has a market capitalization of $18.99 billion, a P/E ratio of 1,916.00, a P/E/G ratio of 1.05 and a beta of 1.24. 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 firm’s 50 day simple moving average is $17.23 and its 200 day simple moving average is $15.80.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) 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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.59 billion. Sell-side analysts forecast that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insider Activity at KeyCorp

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $294,065.49. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

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.