KeyCorp (NYSE:KEY) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp trimmed its position in KeyCorp (NYSE:KEY) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,495 shares of the financial services provider’s stock after selling 6,805 shares during the period. Alaska Permanent Fund Corp’s holdings in KeyCorp were worth $3,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in KeyCorp in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC grew its position in shares of KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after buying an additional 1,836 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in KeyCorp during the third quarter worth $28,000. Baldwin Brothers LLC MA bought a new position in KeyCorp during the fourth quarter worth $35,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in KeyCorp by 195.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,763 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at KeyCorp

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 stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the completion of the transaction, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $14.03, for a total value of $33,335.28. Following the sale, the insider now owns 98,120 shares in the company, valued at approximately $1,376,623.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Douglas M. Schosser sold 3,326 shares of the company’s 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 disclosure for this sale can be found here. In the last quarter, insiders sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.67% of the company’s stock.

KeyCorp Stock Performance

KEY traded up $0.21 during trading on Wednesday, hitting $14.93. The stock had a trading volume of 15,081,401 shares, compared to its average volume of 16,474,930. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 18.90 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 has a 50 day moving average price of $14.72 and a 200-day moving average price of $13.49. KeyCorp has a one year low of $8.53 and a one year high of $15.86.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data 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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. KeyCorp’s revenue was down 10.6% on a year-over-year basis. As a group, research analysts predict that KeyCorp will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. lifted their price target on KeyCorp from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Wells Fargo & Company lifted their target price on KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada lifted their price target on KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Barclays reduced their price target on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus 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.