Aigen Investment Management LP Sells 48,283 Shares of KeyCorp (NYSE:KEY)

Aigen Investment Management LP reduced its stake in KeyCorp (NYSE:KEY) by 67.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,002 shares of the financial services provider’s stock after selling 48,283 shares during the quarter. Aigen Investment Management LP’s holdings in KeyCorp were worth $385,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in KeyCorp in the 1st quarter valued at about $25,000. Wolff Wiese Magana LLC increased its holdings in shares of KeyCorp by 285.5% during the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,142 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of KeyCorp during the third quarter valued at approximately $28,000. Crewe Advisors LLC acquired a new position in shares of KeyCorp during the first quarter worth approximately $32,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of KeyCorp in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Angela G. Mago sold 15,011 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $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. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $18.00 price objective on shares of KeyCorp in a report on Tuesday, September 10th. Baird R W lowered shares of KeyCorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Robert W. Baird downgraded KeyCorp from an “outperform” rating to a “neutral” rating and cut their price target for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research note on Thursday, November 7th. Finally, Jefferies Financial Group raised their target price on KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, August 19th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.79.

KeyCorp Price Performance

Shares of NYSE:KEY opened at $19.13 on Friday. The company has a market capitalization of $18.96 billion, a P/E ratio of 1,913.00, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24. The company’s 50-day moving average is $17.11 and its 200 day moving average is $15.74. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. KeyCorp has a fifty-two week low of $11.64 and a fifty-two week high of $20.00.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. On average, equities research analysts forecast that KeyCorp will post 1.08 earnings per share for the current year.

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.