ING Groep NV Reduces Holdings in KeyCorp (NYSE:KEY)

ING Groep NV trimmed its position in KeyCorp (NYSE:KEY - Free Report) by 59.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,047 shares of the financial services provider's stock after selling 69,840 shares during the period. ING Groep NV's holdings in KeyCorp were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in KEY. Assenagon Asset Management S.A. boosted its holdings in KeyCorp by 280.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider's stock worth $83,364,000 after acquiring an additional 3,668,168 shares in the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of KeyCorp by 112.4% during the second quarter. Ceredex Value Advisors LLC now owns 6,647,393 shares of the financial services provider's stock valued at $94,459,000 after purchasing an additional 3,517,755 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of KeyCorp by 279.6% during the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider's stock valued at $63,452,000 after purchasing an additional 2,790,192 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of KeyCorp by 1,051.3% during the first quarter. National Bank of Canada FI now owns 2,569,771 shares of the financial services provider's stock valued at $38,752,000 after purchasing an additional 2,346,565 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of KeyCorp during the second quarter valued at $33,273,000. 79.69% of the stock is owned by institutional investors.

Insider Transactions at KeyCorp

In other news, insider Angela G. Mago sold 15,011 shares of KeyCorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total transaction of $294,065.49. Following the completion of the sale, the insider now directly owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 6.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlton L. Highsmith sold 9,000 shares of KeyCorp stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction of $154,260.00. Following the sale, the director now owns 37,864 shares of the company's stock, valued at approximately $648,988.96. The trade was a 19.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.67% of the company's stock.

KeyCorp Trading Up 0.3 %

NYSE:KEY traded up $0.06 during trading hours on Monday, reaching $19.22. 4,751,834 shares of the stock were exchanged, compared to its average volume of 13,894,253. The company has a market capitalization of $19.05 billion, a price-to-earnings ratio of 1,922.00, a PEG ratio of 1.05 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. KeyCorp has a twelve month low of $11.64 and a twelve month high of $20.00. The business has a 50-day moving average of $17.23 and a two-hundred day moving average of $15.82.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, equities analysts predict that KeyCorp will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KEY shares. Wedbush upped their price target on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Tuesday, September 24th. Citigroup downgraded KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Thursday, November 7th. Barclays increased their price target on KeyCorp from $16.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. DA Davidson raised their price target on KeyCorp from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Finally, UBS Group raised their price objective on KeyCorp from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.03.

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.