Charles Schwab Investment Management Inc. Has $337.19 Million Position in KeyCorp (NYSE:KEY)

Charles Schwab Investment Management Inc. increased its stake in shares of KeyCorp (NYSE:KEY) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,416,018 shares of the financial services provider’s stock after purchasing an additional 289,258 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in KeyCorp were worth $337,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KEY. Bruce G. Allen Investments LLC acquired a new position in KeyCorp during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC grew its holdings in KeyCorp by 3,600.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in KeyCorp during the 3rd quarter worth approximately $28,000. Baldwin Brothers LLC MA bought a new stake in shares of KeyCorp in the 4th quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of KeyCorp by 195.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,763 shares during the last quarter. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KEY shares. Wedbush reduced their price objective on shares of KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. JPMorgan Chase & Co. upped their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Royal Bank of Canada increased their target price on shares of KeyCorp from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Morgan Stanley increased their target price on shares of KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Piper Sandler increased their target price on shares of KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus price target of $15.71.

Insiders Place Their Bets

In other KeyCorp news, insider Kenneth C. Gavrity sold 2,376 shares of KeyCorp stock in a transaction dated Friday, February 16th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, 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 sale, the insider now owns 98,120 shares of the company’s stock, valued at $1,376,623.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Douglas M. Schosser sold 3,326 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the sale, the chief accounting officer now directly owns 19,795 shares in the company, valued at approximately $277,130. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,442 shares of company stock valued at $303,914. Company insiders own 0.67% of the company’s stock.

KeyCorp Stock Up 0.5 %

Shares of NYSE KEY traded up $0.08 during mid-day trading on Wednesday, reaching $15.01. 6,111,987 shares of the company’s stock traded hands, compared to its average volume of 15,927,857. 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 business has a 50-day simple moving average of $14.86 and a 200 day simple moving average of $13.79. KeyCorp has a 1-year low of $8.73 and a 1-year high of $15.86. The stock has a market cap of $14.15 billion, a P/E ratio of 18.91 and a beta of 1.28.

KeyCorp (NYSE:KEY) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm 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 firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. On average, analysts expect that KeyCorp will post 1.15 EPS for the current fiscal 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.