Park Avenue Securities LLC Acquires New Holdings in KeyCorp (NYSE:KEY)

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Park Avenue Securities LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 20,494 shares of the financial services provider’s stock, valued at approximately $366,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC bought a new position in KeyCorp in the third quarter valued at approximately $35,000. Cordasco Financial Network bought a new position in KeyCorp in the third quarter valued at approximately $43,000. Manchester Financial Inc. bought a new position in KeyCorp in the second quarter valued at approximately $46,000. Coastal Capital Group Inc. bought a new position in KeyCorp in the second quarter valued at approximately $50,000. Finally, CSat Investment Advisory L.P. lifted its stake in KeyCorp by 202.9% in the second quarter. CSat Investment Advisory L.P. now owns 3,087 shares of the financial services provider’s stock valued at $55,000 after buying an additional 2,068 shares in the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock.

Shares of KEY stock opened at $18.13 on Tuesday. The company’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $17.15. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.95. The firm has a market cap of $17.83 billion, a PE ratio of 10.48, a P/E/G ratio of 3.65 and a beta of 1.29. KeyCorp has a 12 month low of $13.65 and a 12 month high of $18.96.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.64 billion. KeyCorp had a net margin of 21.93% and a return on equity of 12.71%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts predict that KeyCorp will post 1.77 earnings per share for the current fiscal year.

In other news, insider Amy G. Brady sold 10,806 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $18.02, for a total value of $194,724.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Andrew J. Paine III sold 99,999 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $18.26, for a total transaction of $1,825,981.74. Following the completion of the sale, the insider now directly owns 85,469 shares in the company, valued at approximately $1,560,663.94. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

A number of brokerages have weighed in on KEY. Credit Suisse Group raised shares of KeyCorp from an “average” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, August 7th. BMO Capital Markets lifted their price target on shares of KeyCorp from $19.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, July 24th. ValuEngine lowered shares of KeyCorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. UBS Group lifted their price target on shares of KeyCorp from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, Piper Jaffray Companies set a $19.00 price target on shares of KeyCorp and gave the company a “buy” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. KeyCorp currently has an average rating of “Hold” and an average price target of $23.74.

KeyCorp Company Profile

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking services in the United States. The company's Key Community Bank segment offers various deposit and investment products, personal finance services, residential mortgages, home equity loans, credit cards, and installment loans.

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Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

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