Picton Mahoney Asset Management Invests $8.05 Million in KeyCorp (NYSE:KEY)

Picton Mahoney Asset Management purchased a new stake in KeyCorp (NYSE:KEY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 558,986 shares of the financial services provider’s stock, valued at approximately $8,050,000. Picton Mahoney Asset Management owned 0.06% of KeyCorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in shares of KeyCorp by 8.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after buying an additional 21,395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in KeyCorp by 35.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 329,655 shares of the financial services provider’s stock worth $4,747,000 after purchasing an additional 86,579 shares during the last quarter. Miller Howard Investments Inc. NY bought a new position in KeyCorp in the 4th quarter valued at $7,200,000. Fifth Third Bancorp increased its position in shares of KeyCorp by 1.0% during the 4th quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock valued at $3,426,000 after purchasing an additional 2,344 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of KeyCorp by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,416,018 shares of the financial services provider’s stock worth $337,191,000 after purchasing an additional 289,258 shares during the period. Institutional investors own 79.69% of the company’s stock.

Insider Activity

In other news, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $1,161,481.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other KeyCorp 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 owns 98,120 shares in the company, valued at approximately $1,376,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Trina M. Evans sold 12,335 shares of KeyCorp stock in a transaction that occurred on Monday, February 12th. The stock was 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 directly 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. Insiders sold 21,442 shares of company stock worth $303,914 over the last three months. 0.67% of the stock is currently owned by corporate insiders.

KeyCorp Trading Up 0.6 %

KEY stock traded up $0.09 during trading on Wednesday, reaching $15.02. The company had a trading volume of 10,164,795 shares, compared to its average volume of 15,975,662. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.87 and a quick ratio of 0.87. KeyCorp has a 52 week low of $8.73 and a 52 week high of $15.86. The business has a 50 day moving average of $14.86 and a 200 day moving average of $13.79. The company has a market cap of $14.16 billion, a P/E ratio of 19.01 and a beta of 1.28.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. As a group, sell-side analysts forecast that KeyCorp will post 1.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KEY. Royal Bank of Canada increased their price target on KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Evercore ISI boosted their price target on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Wells Fargo & Company raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Morgan Stanley boosted their target price on shares of KeyCorp from $12.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Wedbush decreased their price objective on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, KeyCorp has a consensus rating of “Moderate Buy” and an average price target of $15.71.

KeyCorp 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.