Tennessee Valley Asset Management Partners Acquires New Stake in KeyCorp (NYSE:KEY)

Tennessee Valley Asset Management Partners acquired a new stake in KeyCorp (NYSE:KEY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,116 shares of the financial services provider’s stock, valued at approximately $59,000.

A number of other institutional investors and hedge funds have also bought and sold shares of KEY. Bruce G. Allen Investments LLC acquired a new stake in KeyCorp in the fourth quarter valued at $26,000. Sound Income Strategies LLC increased its holdings in 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 valued at $27,000 after purchasing an additional 1,836 shares during the period. Cary Street Partners Investment Advisory LLC acquired a new stake in KeyCorp in the third quarter valued at $28,000. Baldwin Brothers LLC MA acquired a new stake in KeyCorp in the fourth quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV increased its holdings in KeyCorp by 195.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,763 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

KeyCorp Price Performance

KEY stock opened at $14.73 on Wednesday. KeyCorp has a 1 year low of $8.53 and a 1 year high of $15.86. The stock has a market capitalization of $13.66 billion, a PE ratio of 18.64 and a beta of 1.29. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. The company’s 50-day moving average is $14.72 and its 200-day moving average is $13.49.

KeyCorp (NYSE:KEY) last announced its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business posted $0.44 EPS. KeyCorp’s revenue was down 10.6% compared to the same quarter last year. Equities research analysts expect that KeyCorp will post 1.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Wedbush decreased their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, January 19th. Raymond James initiated coverage on KeyCorp in a report on Monday, January 8th. They set a “market perform” rating for the company. JPMorgan Chase & Co. increased their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, Argus increased their price target on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.71.

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the transaction, the director now owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $14.00, for a total value of $46,564.00. Following the completion of the sale, the chief accounting officer now owns 19,795 shares in the company, valued at approximately $277,130. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Trina M. Evans sold 12,335 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $14.23, for a total transaction of $175,527.05. Following the completion of the sale, the director now owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,442 shares of company stock valued at $303,914. 0.67% of the stock is owned by corporate insiders.

KeyCorp Company Profile

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.