Amalgamated Bank Trims Holdings in KeyCorp (NYSE:KEY)

Amalgamated Bank reduced its stake in shares of KeyCorp (NYSE:KEY - Free Report) by 39.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,227 shares of the financial services provider's stock after selling 120,751 shares during the quarter. Amalgamated Bank's holdings in KeyCorp were worth $3,052,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Financial Advocates Investment Management lifted its stake in shares of KeyCorp by 2.3% during the 3rd quarter. Financial Advocates Investment Management now owns 26,872 shares of the financial services provider's stock worth $450,000 after purchasing an additional 602 shares during the last quarter. HM Payson & Co. raised its stake in KeyCorp by 27.0% in the third quarter. HM Payson & Co. now owns 3,060 shares of the financial services provider's stock valued at $51,000 after buying an additional 650 shares during the last quarter. Vontobel Holding Ltd. raised its stake in KeyCorp by 2.1% in the third quarter. Vontobel Holding Ltd. now owns 33,728 shares of the financial services provider's stock valued at $565,000 after buying an additional 679 shares during the last quarter. Raymond James Trust N.A. raised its stake in KeyCorp by 2.5% in the second quarter. Raymond James Trust N.A. now owns 30,155 shares of the financial services provider's stock valued at $429,000 after buying an additional 724 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in KeyCorp by 7.4% in the third quarter. Lake Street Advisors Group LLC now owns 11,697 shares of the financial services provider's stock valued at $196,000 after buying an additional 801 shares during the last quarter. 79.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other KeyCorp news, Director Carlton L. Highsmith sold 10,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $16.21, for a total transaction of $162,100.00. Following the transaction, the director now owns 46,864 shares in the company, valued at approximately $759,665.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Carlton L. Highsmith sold 10,000 shares of the firm's stock in a transaction that occurred on 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 $759,665.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Angela G. Mago sold 15,011 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $19.59, for a total value of $294,065.49. Following the completion of the transaction, the insider now owns 234,582 shares in the company, valued at approximately $4,595,461.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,011 shares of company stock worth $610,425. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on KEY shares. Citigroup cut KeyCorp from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a research note on Thursday. 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. UBS Group increased their price target on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Wednesday, October 23rd. DA Davidson increased their price objective on KeyCorp from $19.00 to $20.00 and gave the company a "buy" rating in a report on Monday, October 21st. Finally, Wedbush increased their price objective on KeyCorp from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.79.

KeyCorp Price Performance

KEY stock traded up $0.28 during mid-day trading on Monday, reaching $19.25. 6,616,670 shares of the company's stock were exchanged, compared to its average volume of 14,058,735. The company has a market cap of $19.08 billion, a price-to-earnings ratio of 1,940.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The stock's 50 day moving average is $16.96 and its 200 day moving average is $15.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.88 and a quick ratio of 0.88. KeyCorp has a 12-month low of $10.73 and a 12-month high of $20.00.

KeyCorp (NYSE:KEY - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.03. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. KeyCorp had a return on equity of 8.24% and a net margin of 0.76%. On average, research analysts expect that KeyCorp will post 1.08 EPS for the current year.

About KeyCorp

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.