KeyCorp (NYSE:KEY) Shares Sold by First Republic Investment Management Inc.

Posted by Defense World Staff on Oct 23rd, 2023

First Republic Investment Management Inc. lessened its holdings in shares of KeyCorp (NYSE:KEY – Free Report) by 36.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,887 shares of the financial services provider’s stock after selling 48,687 shares during the quarter. First Republic Investment Management Inc.’s holdings in KeyCorp were worth $794,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KEY. Meiji Yasuda Asset Management Co Ltd. grew its position in KeyCorp by 2.1% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 26,413 shares of the financial services provider’s stock valued at $460,000 after acquiring an additional 540 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of KeyCorp by 2.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 24,363 shares of the financial services provider’s stock valued at $424,000 after buying an additional 584 shares during the last quarter. BOKF NA boosted its stake in shares of KeyCorp by 3.4% during the 4th quarter. BOKF NA now owns 20,170 shares of the financial services provider’s stock valued at $351,000 after buying an additional 665 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of KeyCorp by 4.1% during the 1st quarter. Cetera Investment Advisers now owns 18,427 shares of the financial services provider’s stock valued at $412,000 after buying an additional 720 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of KeyCorp by 1.4% during the 4th quarter. Neuberger Berman Group LLC now owns 56,920 shares of the financial services provider’s stock valued at $992,000 after buying an additional 798 shares during the last quarter. Institutional investors and hedge funds own 77.77% of the company’s stock.

KeyCorp Stock Down 6.3 %

Shares of KeyCorp stock opened at $9.89 on Monday. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 7.98, a P/E/G ratio of 1.85 and a beta of 1.26. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.87 and a quick ratio of 0.87. KeyCorp has a 52-week low of $8.53 and a 52-week high of $20.30. The stock has a 50-day simple moving average of $10.84 and a 200-day simple moving average of $10.69.

KeyCorp (NYSE:KEY – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $1.55 billion. KeyCorp had a return on equity of 11.64% and a net margin of 11.74%. During the same period in the previous year, the company earned $0.55 EPS. On average, equities research analysts expect that KeyCorp will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

KEY has been the topic of several research analyst reports. Wedbush raised their price objective on KeyCorp from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Jefferies Financial Group lowered their price target on KeyCorp from $12.00 to $10.00 in a report on Tuesday, October 10th. Piper Sandler raised KeyCorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $12.00 to $13.50 in a report on Friday, September 15th. Bank of America lowered their target price on KeyCorp from $13.00 to $12.00 in a report on Tuesday, October 10th. Finally, Citigroup lifted their price target on KeyCorp from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, KeyCorp has an average rating of “Moderate Buy” and a consensus target price of $14.26.

View Our Latest Stock Report on KEY

Insider Activity at KeyCorp

In related news, Director Devina A. Rankin acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $11.49 per share, with a total value of $114,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $114,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by company insiders.

KeyCorp Company Profile

(Free Report)

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; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.