KeyCorp (NYSE:KEY) Downgraded by Citigroup to “Neutral”

Citigroup cut shares of KeyCorp (NYSE:KEY) from a buy rating to a neutral rating in a report published on Thursday, MarketBeat Ratings reports. The firm currently has $19.00 target price on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on KEY. Morgan Stanley lifted their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. DA Davidson boosted their price target on KeyCorp from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. UBS Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Evercore ISI lifted their price objective on KeyCorp from $18.50 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $18.00 to $17.00 in a research note on Monday, October 14th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, KeyCorp currently has a consensus rating of “Moderate Buy” and an average target price of $17.79.

KeyCorp Stock Down 0.1 %

Shares of NYSE:KEY traded down $0.01 during mid-day trading on Thursday, hitting $19.15. 11,259,741 shares of the company traded hands, compared to its average volume of 14,074,724. The firm’s 50 day simple moving average is $16.88 and its 200 day simple moving average is $15.59. The firm has a market cap of $18.06 billion, a P/E ratio of 1,908.00, a PEG ratio of 1.10 and a beta of 1.24. 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 52-week low of $10.73 and a 52-week high of $20.00.

Insider Buying and Selling

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the sale, the director now owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now owns 46,864 shares of the company’s stock, valued at approximately $759,665.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company’s stock, valued at approximately $648,988.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KEY. Ontario Teachers Pension Plan Board raised its stake in shares of KeyCorp by 8.8% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 21,690,319 shares of the financial services provider’s stock worth $342,924,000 after buying an additional 1,748,633 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in KeyCorp by 12.2% in the second quarter. Diamond Hill Capital Management Inc. now owns 20,295,788 shares of the financial services provider’s stock worth $288,403,000 after acquiring an additional 2,213,872 shares in the last quarter. Earnest Partners LLC lifted its holdings in KeyCorp by 23.2% in the 2nd quarter. Earnest Partners LLC now owns 12,430,048 shares of the financial services provider’s stock valued at $176,631,000 after acquiring an additional 2,339,454 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of KeyCorp by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,508,853 shares of the financial services provider’s stock worth $149,299,000 after purchasing an additional 300,339 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of KeyCorp by 112.4% in the 2nd quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider’s stock worth $94,459,000 after purchasing an additional 3,517,755 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

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.