Concord Wealth Partners Has $27,000 Stock Holdings in KeyCorp (NYSE:KEY)

Concord Wealth Partners trimmed its stake in KeyCorp (NYSE:KEY) by 29.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,867 shares of the financial services provider’s stock after selling 768 shares during the quarter. Concord Wealth Partners’ holdings in KeyCorp were worth $27,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in shares of KeyCorp by 8.1% in the third quarter. Asset Management One Co. Ltd. now owns 310,668 shares of the financial services provider’s stock valued at $3,343,000 after buying an additional 23,218 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in KeyCorp by 21.7% in the third quarter. Commonwealth Equity Services LLC now owns 608,103 shares of the financial services provider’s stock valued at $6,543,000 after acquiring an additional 108,549 shares during the last quarter. SVB Wealth LLC bought a new position in shares of KeyCorp in the 3rd quarter valued at about $109,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of KeyCorp by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 107,111 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 1,552 shares during the last quarter. Finally, Xponance Inc. increased its stake in shares of KeyCorp by 3.0% during the 3rd quarter. Xponance Inc. now owns 132,383 shares of the financial services provider’s stock worth $1,424,000 after purchasing an additional 3,858 shares during the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

Insider Buying and Selling

In related news, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were 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 owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other KeyCorp news, Director Trina M. Evans sold 12,335 shares of the business’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 transaction of $175,527.05. Following the completion of the transaction, the director now directly owns 81,622 shares in the company, valued at $1,161,481.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kenneth C. Gavrity sold 2,376 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $1,376,623.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,442 shares of company stock worth $303,914. Company insiders own 0.61% of the company’s stock.

KeyCorp Stock Up 0.4 %

NYSE KEY opened at $14.93 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 18.89 and a beta of 1.28. The company has a 50 day moving average of $14.80 and a 200-day moving average of $13.65. KeyCorp has a 1-year low of $8.53 and a 1-year high of $15.86.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. KeyCorp’s revenue was down 10.6% on a year-over-year basis. During the same quarter last year, the business earned $0.44 EPS. On average, equities research analysts expect that KeyCorp will post 1.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Raymond James began coverage on KeyCorp in a report on Monday, January 8th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods boosted their target price on KeyCorp from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Jefferies Financial Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Piper Sandler lifted their price objective on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.