Connable Office Inc. Has $595,000 Stock Position in KeyCorp (NYSE:KEY)

Connable Office Inc. lowered its position in shares of KeyCorp (NYSE:KEY) by 6.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,503 shares of the financial services provider’s stock after selling 2,601 shares during the quarter. Connable Office Inc.’s holdings in KeyCorp were worth $595,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KEY. Bleakley Financial Group LLC raised its stake in KeyCorp by 11.2% during the 1st quarter. Bleakley Financial Group LLC now owns 12,578 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 1,265 shares during the period. State Board of Administration of Florida Retirement System raised its position in KeyCorp by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,082,272 shares of the financial services provider’s stock valued at $17,111,000 after buying an additional 8,315 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in KeyCorp by 14.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,078,792 shares of the financial services provider’s stock valued at $17,056,000 after buying an additional 137,037 shares during the period. HBK Sorce Advisory LLC acquired a new stake in KeyCorp during the 1st quarter worth about $167,000. Finally, Intech Investment Management LLC purchased a new position in KeyCorp during the 1st quarter valued at about $207,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Activity

In other news, Director Carlton L. Highsmith sold 9,000 shares of the business’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 sale, the director now directly owns 37,864 shares in the company, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now directly owns 234,582 shares of the company’s stock, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

KeyCorp Stock Up 0.4 %

KeyCorp stock opened at $19.13 on Friday. The firm has a fifty day moving average price of $17.11 and a two-hundred day moving average price of $15.74. KeyCorp has a fifty-two week low of $11.64 and a fifty-two week high of $20.00. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of 1,913.00, a P/E/G ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. As a group, analysts forecast that KeyCorp will post 1.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on KEY shares. Morgan Stanley increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Jefferies Financial Group lifted their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Royal Bank of Canada upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Barclays lifted their price objective on KeyCorp from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Citigroup downgraded KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.03.

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.