OneAscent Financial Services LLC Acquires New Holdings in KeyCorp (NYSE:KEY)

OneAscent Financial Services LLC acquired a new stake in shares of KeyCorp (NYSE:KEY) during the third quarter, HoldingsChannel reports. The fund acquired 29,401 shares of the financial services provider’s stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC purchased a new stake in KeyCorp during the first quarter valued at approximately $561,000. Assenagon Asset Management S.A. increased its holdings in KeyCorp by 87.5% during the second quarter. Assenagon Asset Management S.A. now owns 1,308,797 shares of the financial services provider’s stock valued at $18,598,000 after buying an additional 610,688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in KeyCorp by 14.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 657,913 shares of the financial services provider’s stock valued at $10,928,000 after buying an additional 85,052 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in KeyCorp during the second quarter valued at approximately $981,000. Finally, Cetera Investment Advisers increased its holdings in KeyCorp by 274.4% during the first quarter. Cetera Investment Advisers now owns 332,140 shares of the financial services provider’s stock valued at $5,251,000 after buying an additional 243,437 shares during the last quarter. Institutional investors own 79.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on KEY. Royal Bank of Canada upped their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, October 18th. Barclays increased their price objective on shares of KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company increased their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird cut shares of KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $18.00 to $17.00 in a research note on Monday, October 14th. Finally, The Goldman Sachs Group set a $19.00 price objective on shares of KeyCorp in a research note on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.03.

KeyCorp Price Performance

KEY stock opened at $19.23 on Tuesday. KeyCorp has a 52 week low of $11.64 and a 52 week high of $20.00. 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 company has a fifty day simple moving average of $17.29 and a two-hundred day simple moving average of $15.85. The firm has a market capitalization of $19.06 billion, a P/E ratio of 1,923.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24.

KeyCorp (NYSE:KEY) last released its quarterly earnings data on Thursday, October 17th. The financial services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. KeyCorp had a net margin of 0.76% and a return on equity of 8.24%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.59 billion. Analysts anticipate that KeyCorp will post 1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at KeyCorp

In other news, Director Carlton L. Highsmith sold 9,000 shares of the firm’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 owns 37,864 shares in the company, valued at approximately $648,988.96. This trade represents a 19.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Angela G. Mago sold 15,011 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 234,582 shares of the company’s stock, valued at $4,595,461.38. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

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.