Investors Sell KeyCorp (KEY) on Strength (KEY)

Traders sold shares of KeyCorp (NYSE:KEY) on strength during trading hours on Thursday. $37.07 million flowed into the stock on the tick-up and $46.15 million flowed out of the stock on the tick-down, for a money net flow of $9.08 million out of the stock. Of all companies tracked, KeyCorp had the 30th highest net out-flow for the day. KeyCorp traded up $0.68 for the day and closed at $19.55

Several equities research analysts have commented on KEY shares. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, December 26th. Barclays upped their price target on KeyCorp from $19.00 to $23.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. DA Davidson upped their price target on KeyCorp to $26.00 and gave the company a “buy” rating in a report on Friday, January 19th. Vining Sparks reaffirmed a “buy” rating and set a $25.00 price target on shares of KeyCorp in a report on Thursday, January 18th. Finally, Deutsche Bank raised KeyCorp from a “hold” rating to a “buy” rating and upped their price target for the company from $23.00 to $24.00 in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. KeyCorp presently has a consensus rating of “Buy” and a consensus target price of $22.14.

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The stock has a market cap of $20,110.63, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 1.19 and a beta of 1.04. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.02.

KeyCorp (NYSE:KEY) last posted 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. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.56 billion. KeyCorp had a return on equity of 10.66% and a net margin of 18.06%. KeyCorp’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. analysts expect that KeyCorp will post 1.67 earnings per share for the current fiscal year.

In related news, insider Christopher M. Gorman sold 56,038 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $20.97, for a total transaction of $1,175,116.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Craig A. Buffie sold 11,819 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $21.21, for a total value of $250,680.99. Following the sale, the insider now owns 51,791 shares of the company’s stock, valued at approximately $1,098,487.11. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,857 shares of company stock valued at $1,953,548. 0.65% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mycio Wealth Partners LLC increased its position in KeyCorp by 17.1% in the fourth quarter. Mycio Wealth Partners LLC now owns 17,116 shares of the financial services provider’s stock worth $345,000 after buying an additional 2,500 shares in the last quarter. New Mexico Educational Retirement Board increased its position in KeyCorp by 2.6% in the fourth quarter. New Mexico Educational Retirement Board now owns 104,487 shares of the financial services provider’s stock worth $2,108,000 after buying an additional 2,600 shares in the last quarter. MML Investors Services LLC increased its position in KeyCorp by 17.3% in the fourth quarter. MML Investors Services LLC now owns 18,561 shares of the financial services provider’s stock worth $374,000 after buying an additional 2,744 shares in the last quarter. Dividend Assets Capital LLC increased its position in KeyCorp by 11.7% in the fourth quarter. Dividend Assets Capital LLC now owns 27,335 shares of the financial services provider’s stock worth $551,000 after buying an additional 2,860 shares in the last quarter. Finally, Mcmillion Capital Management Inc. increased its position in KeyCorp by 2.0% in the fourth quarter. Mcmillion Capital Management Inc. now owns 162,591 shares of the financial services provider’s stock worth $3,279,000 after buying an additional 3,120 shares in the last quarter. Institutional investors and hedge funds own 81.71% of the company’s stock.

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About KeyCorp

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.

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