Avaii Wealth Management LLC Reduces Stock Holdings in KeyCorp (NYSE:KEY)

Avaii Wealth Management LLC lowered its position in KeyCorp (NYSE:KEY) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,498 shares of the financial services provider’s stock after selling 1,655 shares during the quarter. Avaii Wealth Management LLC’s holdings in KeyCorp were worth $166,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in KEY. Bruce G. Allen Investments LLC acquired a new stake in shares of KeyCorp during the fourth quarter valued at $26,000. Sound Income Strategies LLC boosted its stake in shares of KeyCorp by 3,600.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 1,836 shares during the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of KeyCorp during the third quarter valued at $28,000. Baldwin Brothers LLC MA acquired a new stake in shares of KeyCorp during the fourth quarter valued at $35,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of KeyCorp by 195.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,666 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,763 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on KEY. JPMorgan Chase & Co. increased their price objective on KeyCorp from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. Morgan Stanley raised their price target on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. DA Davidson decreased their price target on KeyCorp from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, January 19th. Barclays decreased their price target on KeyCorp from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, January 19th. Finally, Wedbush decreased their price target on KeyCorp from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Stock Performance

Shares of KEY opened at $14.73 on Tuesday. The business’s 50 day moving average is $14.78 and its two-hundred day moving average is $13.61. KeyCorp has a 52-week low of $8.53 and a 52-week high of $15.86. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 18.65 and a beta of 1.29. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.72.

KeyCorp (NYSE:KEY) last announced its earnings results on Thursday, April 18th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Analysts forecast that KeyCorp will post 1.15 EPS for the current fiscal year.

Insider Activity at KeyCorp

In related news, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Trina M. Evans sold 12,335 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $14.23, for a total transaction of $175,527.05. Following the sale, the director now directly owns 81,622 shares of the company’s stock, valued at approximately $1,161,481.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Angela G. Mago sold 3,405 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.24, for a total value of $48,487.20. Following the sale, the insider now directly owns 214,630 shares in the company, valued at $3,056,331.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.67% of the company’s stock.

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.