Vontobel Holding Ltd. Grows Position in KeyCorp (NYSE:KEY)

Vontobel Holding Ltd. raised its stake in shares of KeyCorp (NYSE:KEY) by 25.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 115,346 shares of the financial services provider’s stock after purchasing an additional 23,218 shares during the period. Vontobel Holding Ltd.’s holdings in KeyCorp were worth $1,661,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bruce G. Allen Investments LLC bought a new position in shares of KeyCorp during the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its position in shares of KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of KeyCorp in the third quarter worth $28,000. Baldwin Brothers LLC MA bought a new stake in shares of KeyCorp during the 4th quarter valued at $35,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of KeyCorp during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

KeyCorp Stock Up 1.7 %

Shares of NYSE KEY opened at $14.63 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.72. KeyCorp has a 12-month low of $8.53 and a 12-month high of $15.86. The firm’s 50-day moving average price is $14.69 and its 200-day moving average price is $13.38. The stock has a market capitalization of $13.57 billion, a price-to-earnings ratio of 18.52 and a beta of 1.29.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. On average, equities research analysts anticipate that KeyCorp will post 1.17 EPS for the current fiscal year.

Insider Activity

In related news, insider Angela G. Mago sold 3,405 shares of the firm’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 sale, the insider now directly owns 214,630 shares in the company, valued at $3,056,331.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $14.03, for a total transaction of $33,335.28. Following the transaction, the insider now directly owns 98,120 shares in the company, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela G. Mago sold 3,405 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $14.24, for a total transaction of $48,487.20. Following the completion of the sale, the insider now directly owns 214,630 shares of the company’s stock, valued at approximately $3,056,331.20. 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. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Jefferies Financial Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Argus increased their target price on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson lowered their price target on KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, January 19th. JPMorgan Chase & Co. increased their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Piper Sandler lifted their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, KeyCorp currently has an average rating of “Moderate Buy” and an average target price 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.