KeyCorp (NYSE:KEY) Hits New 1-Year High – What’s Next?

Shares of KeyCorp (NYSE:KEY) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $18.86 and last traded at $18.85, with a volume of 246325 shares changing hands. The stock had previously closed at $17.26.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group lifted their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Citigroup cut KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research note on Thursday. Jefferies Financial Group increased 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. Evercore ISI lifted their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Barclays boosted their target price on shares of KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and an average price target of $17.79.

KeyCorp Stock Performance

The business’s fifty day moving average price is $16.88 and its 200-day moving average price is $15.59. 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 stock has a market capitalization of $18.05 billion, a PE ratio of 1,914.00, a P/E/G ratio of 1.10 and a beta of 1.24.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 9,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 37,864 shares in the company, valued at $648,988.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at $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 is available at this link. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now directly owns 37,864 shares of the company’s stock, valued at $648,988.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board boosted its holdings in shares of KeyCorp by 8.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after purchasing an additional 1,748,633 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in KeyCorp by 12.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after buying an additional 2,213,872 shares in the last quarter. Earnest Partners LLC grew its position in KeyCorp by 23.2% during the second quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after acquiring an additional 2,339,454 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of KeyCorp by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after acquiring an additional 300,339 shares during the last quarter. Finally, Ceredex Value Advisors LLC boosted its stake in shares of KeyCorp by 112.4% in 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 purchasing an additional 3,517,755 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

KeyCorp Company Profile

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.