PFG Investments LLC Makes New Investment in KeyCorp (NYSE:KEY)

PFG Investments LLC acquired a new position in KeyCorp (NYSE:KEY) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,689 shares of the financial services provider’s stock, valued at approximately $375,000.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of KeyCorp by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock valued at $3,931,000 after acquiring an additional 21,395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of KeyCorp by 35.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock valued at $4,747,000 after acquiring an additional 86,579 shares in the last quarter. Miller Howard Investments Inc. NY bought a new position in shares of KeyCorp during the fourth quarter valued at $7,200,000. Fifth Third Bancorp increased its holdings in shares of KeyCorp by 1.0% during the fourth quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock valued at $3,426,000 after acquiring an additional 2,344 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of KeyCorp by 44.1% during the fourth quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock valued at $23,186,000 after acquiring an additional 492,584 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insider Activity at KeyCorp

In related news, insider Angela G. Mago sold 3,405 shares of KeyCorp stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the sale, the insider now owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the sale, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total value of $175,527.05. Following the sale, the director now directly owns 81,622 shares in the company, valued at $1,161,481.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,442 shares of company stock valued at $303,914. 0.67% of the stock is owned by company insiders.

Analyst Ratings Changes

KEY has been the subject of several research analyst reports. DA Davidson reduced their price objective on KeyCorp from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, January 19th. Jefferies Financial Group lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Raymond James initiated coverage on KeyCorp in a report on Monday, January 8th. They issued a “market perform” rating for the company. Wedbush reduced their price objective on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Finally, Royal Bank of Canada lifted their price objective on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp Stock Performance

Shares of KEY stock traded down $0.24 during trading hours on Tuesday, reaching $14.49. 10,761,283 shares of the company traded hands, compared to its average volume of 16,311,131. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $13.44 billion, a P/E ratio of 18.34 and a beta of 1.29. The firm has a 50-day moving average price of $14.78 and a 200 day moving average price of $13.64.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. As a group, sell-side analysts predict that KeyCorp will post 1.15 earnings per share for the current fiscal year.

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.