Royal Bank of Canada Reaffirms Outperform Rating for KeyCorp (NYSE:KEY)

KeyCorp (NYSE:KEY)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They currently have a $18.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 3.01% from the stock’s previous close.

Several other equities analysts have also issued reports on KEY. Barclays lifted their target price on shares of KeyCorp from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. DA Davidson dropped their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Stephens restated an “overweight” rating and set a $20.00 price target on shares of KeyCorp in a report on Wednesday. UBS Group upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wedbush raised their price objective on shares of KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.58.

KeyCorp Trading Up 1.0 %

Shares of NYSE KEY opened at $17.47 on Wednesday. KeyCorp has a 1 year low of $13.10 and a 1 year high of $20.04. 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 has a 50-day moving average of $18.10 and a 200 day moving average of $17.06. The stock has a market cap of $17.32 billion, a P/E ratio of -58.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27.

Insider Transactions 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 value of $154,260.00. Following the transaction, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $294,065.49. Following the completion of the sale, the insider now owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in KeyCorp by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,606,503 shares of the financial services provider’s stock valued at $529,409,000 after purchasing an additional 993,942 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of KeyCorp by 23.2% during the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after buying an additional 2,339,454 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in KeyCorp by 3.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,114,598 shares of the financial services provider’s stock worth $119,170,000 after buying an additional 222,187 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in KeyCorp by 108.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock worth $98,025,000 after buying an additional 3,042,060 shares in the last quarter. Finally, Azora Capital LP bought a new stake in KeyCorp during the third quarter valued at about $92,413,000. 79.69% of the stock is currently owned by institutional investors.

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.