UBS Group Raises KeyCorp (NYSE:KEY) Price Target to $18.00

KeyCorp (NYSE:KEY) had its price objective lifted by stock analysts at UBS Group from $17.00 to $18.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 5.39% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Morgan Stanley lifted their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of KeyCorp in a research note on Tuesday, September 10th. Wedbush boosted their target price on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Barclays boosted their target price on KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, DA Davidson boosted their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and a consensus price target of $17.79.

KeyCorp Stock Performance

Shares of KEY stock traded down $0.09 during trading hours on Wednesday, reaching $17.08. 1,107,901 shares of the company traded hands, compared to its average volume of 14,240,877. KeyCorp has a 12-month low of $9.50 and a 12-month high of $17.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.85. The company has a market cap of $16.10 billion, a P/E ratio of 21.62, a P/E/G ratio of 0.97 and a beta of 1.25. The firm has a 50-day moving average price of $16.67 and a 200 day moving average price of $15.38.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the sale, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of hedge funds have recently made changes to their positions in KEY. Assenagon Asset Management S.A. lifted its stake in shares of KeyCorp by 280.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock worth $83,364,000 after purchasing an additional 3,668,168 shares during the last quarter. Ceredex Value Advisors LLC increased its position in KeyCorp by 112.4% during the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock valued at $94,459,000 after buying an additional 3,517,755 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in KeyCorp during the 1st quarter valued at about $42,857,000. National Bank of Canada FI increased its holdings in shares of KeyCorp by 1,051.3% in the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider’s stock valued at $38,752,000 after purchasing an additional 2,346,565 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of KeyCorp in the second quarter valued at about $33,273,000. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

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.