Kovitz Investment Group Partners LLC decreased its holdings in shares of KeyCorp (NYSE:KEY – Get Rating) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,293 shares of the financial services provider’s stock after selling 8,305 shares during the period. Kovitz Investment Group Partners LLC’s holdings in KeyCorp were worth $1,925,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fagan Associates Inc. lifted its stake in KeyCorp by 2.9% during the third quarter. Fagan Associates Inc. now owns 15,568 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 442 shares during the period. Sonora Investment Management LLC raised its position in shares of KeyCorp by 18.6% during the 3rd quarter. Sonora Investment Management LLC now owns 3,042 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 476 shares during the last quarter. Stevens Capital Management LP raised its position in shares of KeyCorp by 4.5% during the 4th quarter. Stevens Capital Management LP now owns 11,187 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 482 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of KeyCorp by 8.2% in the 4th quarter. Quadrant Capital Group LLC now owns 6,957 shares of the financial services provider’s stock valued at $161,000 after buying an additional 526 shares during the period. Finally, Nwam LLC boosted its stake in KeyCorp by 2.4% in the 3rd quarter. Nwam LLC now owns 22,830 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 542 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.
Several research analysts have weighed in on the stock. UBS Group initiated coverage on shares of KeyCorp in a report on Wednesday, January 12th. They issued a “buy” rating and a $32.00 price target on the stock. Credit Suisse Group raised shares of KeyCorp from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 8th. Zacks Investment Research raised shares of KeyCorp from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a report on Friday, January 28th. Citigroup reiterated a “neutral” rating on shares of KeyCorp in a research report on Thursday, March 24th. Finally, Piper Sandler reduced their price target on shares of KeyCorp from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 2nd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $27.21.
KeyCorp (NYSE:KEY – Get Rating) last issued its earnings results on Thursday, January 20th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.07. KeyCorp had a net margin of 33.32% and a return on equity of 15.93%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the business posted $0.56 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Research analysts forecast that KeyCorp will post 2.19 EPS for the current year.
In other news, Director Carlton L. Highsmith sold 5,362 shares of KeyCorp stock in a transaction on Monday, March 7th. The shares were sold at an average price of $22.86, for a total transaction of $122,575.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by insiders.
KeyCorp Company Profile (Get Rating)
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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.
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