KeyCorp (NYSE:KEY) Cut to Neutral at Citigroup

KeyCorp (NYSE:KEY - Get Free Report) was downgraded by research analysts at Citigroup from a "buy" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. They currently have a $19.00 price objective on the financial services provider's stock. Citigroup's target price suggests a potential downside of 0.73% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Evercore ISI upped their price target on shares of KeyCorp from $18.50 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group set a $19.00 price target on KeyCorp in a report on Thursday, October 17th. Robert W. Baird lowered KeyCorp from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $17.00 in a research note on Monday, October 14th. DA Davidson raised their target price on KeyCorp from $19.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group upped their price target on KeyCorp from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Monday, August 19th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.79.

KeyCorp Stock Performance

KeyCorp stock traded down $0.83 during midday trading on Thursday, reaching $19.14. The stock had a trading volume of 13,873,670 shares, compared to its average volume of 14,087,721. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $18.05 billion, a PE ratio of 1,907.00, a P/E/G ratio of 0.94 and a beta of 1.24. KeyCorp has a 12 month low of $10.73 and a 12 month high of $20.00. The firm's 50-day moving average price is $16.88 and its 200 day moving average price is $15.59.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares of the company's stock, valued at $648,988.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the transaction, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total value of $154,260.00. Following the completion of the sale, the director now directly owns 37,864 shares of the company's stock, valued at approximately $648,988.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On KeyCorp

A number of large investors have recently bought and sold shares of KEY. Wolff Wiese Magana LLC increased its position in shares of KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 1,142 shares during the period. Pathway Financial Advisers LLC purchased a new position in KeyCorp during the 1st quarter valued at about $25,000. American Capital Advisory LLC bought a new position in KeyCorp during the 3rd quarter valued at approximately $28,000. Crewe Advisors LLC purchased a new stake in KeyCorp in the 1st quarter worth approximately $32,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of KeyCorp in the 3rd quarter worth approximately $35,000. 79.69% of the stock is owned by hedge funds and other institutional investors.

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.