KeyCorp (NYSE:KEY) Position Boosted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its holdings in shares of KeyCorp (NYSE:KEY) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,297 shares of the financial services provider’s stock after purchasing an additional 9,140 shares during the period. Exchange Traded Concepts LLC’s holdings in KeyCorp were worth $3,338,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Freestone Capital Holdings LLC purchased a new stake in KeyCorp during the first quarter valued at about $561,000. Assenagon Asset Management S.A. lifted its position in shares of KeyCorp by 87.5% in the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock worth $18,598,000 after purchasing an additional 610,688 shares in the last quarter. Commerce Bank lifted its position in shares of KeyCorp by 399.7% in the first quarter. Commerce Bank now owns 456,136 shares of the financial services provider’s stock worth $7,212,000 after purchasing an additional 364,850 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in shares of KeyCorp in the second quarter worth approximately $981,000. Finally, Cetera Investment Advisers lifted its position in shares of KeyCorp by 274.4% in the first quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock worth $5,251,000 after purchasing an additional 243,437 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the completion of the sale, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.61% of the stock is currently owned by insiders.

KeyCorp Stock Performance

Shares of KEY stock opened at $17.40 on Tuesday. The company has a fifty day moving average price of $16.37 and a two-hundred day moving average price of $15.30. KeyCorp has a one year low of $9.50 and a one year high of $17.47. The stock has a market cap of $16.41 billion, a P/E ratio of 22.03, a P/E/G ratio of 0.94 and a beta of 1.25. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.85 and a quick ratio of 0.85.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the firm posted $0.27 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts predict that KeyCorp will post 1.08 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a research report on Tuesday, September 10th. Morgan Stanley increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. DA Davidson raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, July 19th. 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 report on Tuesday, September 24th. Finally, Evercore ISI raised their price objective on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

KeyCorp 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.