53,902 Shares in KeyCorp $KEY Bought by Munich Reinsurance Co Stock Corp in Munich
by Amy Steele · The Cerbat GemMunich Reinsurance Co Stock Corp in Munich bought a new position in KeyCorp (NYSE:KEY – Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 53,902 shares of the financial services provider’s stock, valued at approximately $1,117,000.
Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in KeyCorp by 90.2% during the 3rd quarter. Wellington Management Group LLP now owns 36,370,694 shares of the financial services provider’s stock valued at $679,768,000 after acquiring an additional 17,245,128 shares in the last quarter. Capital World Investors lifted its stake in KeyCorp by 169.2% during the 3rd quarter. Capital World Investors now owns 20,788,957 shares of the financial services provider’s stock valued at $388,546,000 after acquiring an additional 13,067,326 shares in the last quarter. Franklin Resources Inc. lifted its stake in KeyCorp by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 15,799,619 shares of the financial services provider’s stock valued at $295,295,000 after acquiring an additional 397,523 shares in the last quarter. Bank of America Corp DE lifted its stake in KeyCorp by 12.6% during the 2nd quarter. Bank of America Corp DE now owns 7,843,378 shares of the financial services provider’s stock valued at $136,632,000 after acquiring an additional 879,678 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in KeyCorp by 39.6% during the 3rd quarter. Victory Capital Management Inc. now owns 6,856,534 shares of the financial services provider’s stock valued at $128,149,000 after acquiring an additional 1,945,368 shares in the last quarter. 79.69% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on KEY. Truist Financial dropped their price objective on KeyCorp from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Monday, March 23rd. Argus raised their price objective on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Citigroup restated a “neutral” rating on shares of KeyCorp in a research note on Wednesday, December 31st. Royal Bank Of Canada raised their price objective on KeyCorp from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Finally, Wells Fargo & Company set a $18.00 price objective on KeyCorp and gave the company an “underperform” rating in a research note on Tuesday, January 6th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.13.
View Our Latest Stock Analysis on KEY
Insiders Place Their Bets
In other news, insider Andrew J. Paine III sold 65,961 shares of KeyCorp stock in a transaction on Friday, February 6th. The stock was sold at an average price of $23.23, for a total transaction of $1,532,274.03. Following the sale, the insider directly owned 166,583 shares in the company, valued at $3,869,723.09. The trade was a 28.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela G. Mago sold 62,850 shares of KeyCorp stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $21.55, for a total value of $1,354,417.50. Following the sale, the insider owned 261,415 shares in the company, valued at $5,633,493.25. The trade was a 19.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.56% of the company’s stock.
KeyCorp Trading Down 1.7%
NYSE KEY opened at $21.63 on Friday. The stock has a market capitalization of $23.20 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.70 and a beta of 1.07. KeyCorp has a one year low of $14.44 and a one year high of $23.34. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The business’s fifty day moving average is $20.68 and its 200-day moving average is $20.03.
KeyCorp (NYSE:KEY – Get Free Report) last released its earnings results on Thursday, April 16th. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.93 billion. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Equities research analysts predict that KeyCorp will post 1.82 EPS for the current year.
About KeyCorp
KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.
The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.
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