KeyCorp (NYSE:KEY) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in shares of KeyCorp (NYSE:KEY) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,492 shares of the financial services provider’s stock after purchasing an additional 8,901 shares during the period. CIBC Asset Management Inc’s holdings in KeyCorp were worth $2,269,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Pathway Financial Advisers LLC acquired a new position in KeyCorp in the first quarter valued at $25,000. Wolff Wiese Magana LLC raised its holdings in shares of KeyCorp by 285.5% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,142 shares during the period. American Capital Advisory LLC acquired a new position in shares of KeyCorp in the 3rd quarter valued at about $28,000. Crewe Advisors LLC purchased a new stake in shares of KeyCorp during the 1st quarter worth about $32,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in KeyCorp during the 3rd quarter worth approximately $35,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KEY has been the topic of a number of recent research reports. The Goldman Sachs Group set a $19.00 price target on shares of KeyCorp in a research report on Thursday, October 17th. DA Davidson increased their price target on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 21st. Wedbush boosted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.03.

KeyCorp Trading Down 1.2 %

Shares of NYSE KEY opened at $19.00 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average price is $17.36 and its two-hundred day moving average price is $15.88. KeyCorp has a 52-week low of $11.64 and a 52-week high of $20.00. The stock has a market capitalization of $18.83 billion, a P/E ratio of 1,900.00, a PEG ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 234,582 shares in the company, valued at $4,595,461.38. This represents a 6.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares in the company, valued at $648,988.96. This represents a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate 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.