Ledyard National Bank Sells 2,673 Shares of KeyCorp (NYSE:KEY)

Ledyard National Bank lessened its stake in shares of KeyCorp (NYSE:KEY) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,923 shares of the financial services provider’s stock after selling 2,673 shares during the period. Ledyard National Bank’s holdings in KeyCorp were worth $330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of KeyCorp by 8.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 273,010 shares of the financial services provider’s stock worth $3,931,000 after purchasing an additional 21,395 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of KeyCorp by 35.6% in the 4th 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 in the last quarter. Miller Howard Investments Inc. NY bought a new stake in shares of KeyCorp in the 4th quarter worth $7,200,000. Fifth Third Bancorp increased its holdings in shares of KeyCorp by 1.0% in the 4th quarter. Fifth Third Bancorp now owns 237,934 shares of the financial services provider’s stock worth $3,426,000 after purchasing an additional 2,344 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of KeyCorp by 44.1% in the 4th quarter. Raymond James & Associates now owns 1,610,148 shares of the financial services provider’s stock worth $23,186,000 after purchasing an additional 492,584 shares in the last quarter. Institutional investors own 79.69% of the company’s stock.

Insiders Place Their Bets

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $14.03, for a total transaction of $33,335.28. Following the sale, the insider now directly owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other KeyCorp news, CAO Douglas M. Schosser sold 3,326 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the transaction, the chief accounting officer now owns 19,795 shares in the company, valued at $277,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kenneth C. Gavrity sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $14.03, for a total value of $33,335.28. Following the transaction, the insider now owns 98,120 shares of the company’s stock, valued at approximately $1,376,623.60. The disclosure for this sale can be found here. Insiders have sold 21,442 shares of company stock valued at $303,914 over the last ninety days. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised 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. Piper Sandler raised their price target on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Argus raised their price target on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. 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 report on Thursday, March 28th. Finally, Jefferies Financial Group lifted their target price on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.71.

KeyCorp Price Performance

Shares of KEY stock traded down $0.05 during trading hours on Tuesday, hitting $14.68. The stock had a trading volume of 3,006,410 shares, compared to its average volume of 16,214,967. KeyCorp has a one year low of $8.53 and a one year high of $15.86. 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 stock’s 50-day moving average price is $14.78 and its two-hundred day moving average price is $13.61. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 18.65 and a beta of 1.29.

KeyCorp (NYSE:KEY) last issued 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 return on equity of 8.89% and a net margin of 7.53%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The company’s revenue was down 10.6% compared to the same quarter last year. Equities analysts forecast that KeyCorp will post 1.15 EPS for the current year.

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.