Royal Fund Management LLC Sells 2,800 Shares of KeyCorp (NYSE:KEY)

Royal Fund Management LLC lowered its stake in KeyCorp (NYSE:KEY) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,600 shares of the financial services provider’s stock after selling 2,800 shares during the quarter. Royal Fund Management LLC’s holdings in KeyCorp were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Sapient Capital LLC bought a new position in shares of KeyCorp in the fourth quarter worth about $608,000. Merit Financial Group LLC bought a new position in shares of KeyCorp in the fourth quarter worth about $145,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of KeyCorp by 61.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 43,752 shares of the financial services provider’s stock worth $630,000 after buying an additional 16,732 shares during the period. Amalgamated Bank raised its stake in KeyCorp by 10.8% during the 4th quarter. Amalgamated Bank now owns 259,938 shares of the financial services provider’s stock valued at $3,743,000 after purchasing an additional 25,392 shares during the period. Finally, Natixis Advisors L.P. raised its stake in KeyCorp by 40.7% during the 4th quarter. Natixis Advisors L.P. now owns 299,272 shares of the financial services provider’s stock valued at $4,309,000 after purchasing an additional 86,539 shares during the period. Institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now directly owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Angela G. Mago sold 3,405 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $14.24, for a total value of $48,487.20. Following the completion of the transaction, the insider now directly owns 214,630 shares of the company’s stock, valued at $3,056,331.20. The disclosure for this sale can be found here. In the last three months, insiders sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.61% of the company’s stock.

KeyCorp Stock Up 0.4 %

NYSE KEY traded up $0.06 on Friday, reaching $14.93. 9,274,415 shares of the stock traded hands, compared to its average volume of 15,435,352. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average price of $14.80 and a 200-day moving average price of $13.65. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 18.90 and a beta of 1.28. KeyCorp has a 12 month low of $8.53 and a 12 month high of $15.86.

KeyCorp (NYSE:KEY) last issued its earnings results 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 firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. As a group, research analysts forecast that KeyCorp will post 1.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Evercore ISI lifted their target price on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Barclays decreased their target price on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, January 19th. Keefe, Bruyette & Woods lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Finally, Argus lifted their target price on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.71.

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.