KeyCorp (NYSE:KEY) Price Target Lowered to $20.00 at Morgan Stanley

KeyCorp (NYSE:KEY) had its target price dropped by investment analysts at Morgan Stanley from $22.00 to $20.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 31.10% from the stock’s previous close.

KEY has been the subject of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. DA Davidson cut their target price on shares of KeyCorp from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler increased their price target on KeyCorp from $19.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Barclays upped their target price on KeyCorp from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.64.

KeyCorp Stock Performance

NYSE:KEY traded down $0.23 during mid-day trading on Thursday, hitting $15.26. The company’s stock had a trading volume of 5,053,143 shares, compared to its average volume of 11,906,674. The business’s fifty day moving average is $17.26 and its two-hundred day moving average is $17.45. The stock has a market cap of $16.86 billion, a price-to-earnings ratio of -50.78, a PEG ratio of 0.65 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.85 and a quick ratio of 0.84. KeyCorp has a 1 year low of $13.11 and a 1 year high of $20.04.

Insider Activity

In other news, Director Of Nova Scotia Bank bought 50,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were bought at an average cost of $17.85 per share, for a total transaction of $892,500.00. Following the acquisition, the director now directly owns 162,983,726 shares of the company’s stock, valued at $2,909,259,509.10. This trade represents a 0.03 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On KeyCorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of KeyCorp by 7.1% during the 4th quarter. Vanguard Group Inc. now owns 116,932,760 shares of the financial services provider’s stock worth $2,004,228,000 after purchasing an additional 7,754,576 shares during the period. FMR LLC boosted its position in shares of KeyCorp by 7.1% during the fourth quarter. FMR LLC now owns 44,431,526 shares of the financial services provider’s stock worth $761,556,000 after buying an additional 2,938,405 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of KeyCorp by 4.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,302,732 shares of the financial services provider’s stock valued at $622,229,000 after buying an additional 1,645,296 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of KeyCorp by 4.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 33,058,682 shares of the financial services provider’s stock valued at $566,626,000 after buying an additional 1,452,179 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in KeyCorp by 4.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,183,748 shares of the financial services provider’s stock worth $465,929,000 after acquiring an additional 1,062,615 shares in the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

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.