ProShare Advisors LLC Sells 15,012 Shares of KeyCorp $KEY

by · The Cerbat Gem

ProShare Advisors LLC lowered its stake in shares of KeyCorp (NYSE:KEY – Free Report) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 218,227 shares of the financial services provider’s stock after selling 15,012 shares during the period. ProShare Advisors LLC’s holdings in KeyCorp were worth $3,802,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Dakota Wealth Management increased its position in KeyCorp by 2.2% in the second quarter. Dakota Wealth Management now owns 27,374 shares of the financial services provider’s stock worth $477,000 after buying an additional 586 shares during the last quarter. Bryn Mawr Trust Advisors LLC lifted its position in shares of KeyCorp by 4.8% during the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 13,363 shares of the financial services provider’s stock valued at $233,000 after buying an additional 608 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of KeyCorp by 2.9% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 22,412 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 639 shares during the period. AlphaCore Capital LLC increased its holdings in KeyCorp by 5.2% in the 1st quarter. AlphaCore Capital LLC now owns 13,238 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 651 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in KeyCorp by 34.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,644 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 671 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on KEY. Jefferies Financial Group dropped their price objective on shares of KeyCorp from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, October 17th. Royal Bank Of Canada boosted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. TD Cowen upped their price target on shares of KeyCorp from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, October 3rd. DA Davidson reduced their price objective on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, October 17th. Finally, Citigroup reissued a “neutral” rating and set a $20.00 target price (up previously from $19.00) on shares of KeyCorp in a report on Thursday, July 24th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.75.

Read Our Latest Research Report on KeyCorp

KeyCorp Stock Performance

KeyCorp stock opened at $17.62 on Friday. KeyCorp has a 1-year low of $12.73 and a 1-year high of $20.04. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $19.25 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.18. The firm’s 50 day simple moving average is $18.15 and its 200 day simple moving average is $17.57.

KeyCorp (NYSE:KEY – Get Free Report) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. KeyCorp had a net margin of 10.08% and a return on equity of 10.14%. The business’s quarterly revenue was up 172.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) EPS. As a group, analysts expect that KeyCorp will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew J. Paine III sold 44,953 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $19.29, for a total transaction of $867,143.37. Following the completion of the transaction, the insider directly owned 245,044 shares in the company, valued at $4,726,898.76. The trade was a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by insiders.

KeyCorp Profile

(Free Report)

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.

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