KeyCorp (NYSE:KEY) Downgraded to Neutral Rating by Citigroup

Citigroup lowered shares of KeyCorp (NYSE:KEY) from a buy rating to a neutral rating in a research note released on Thursday, MarketBeat reports. Citigroup currently has $19.00 price objective on the financial services provider’s stock.

KEY has been the subject of a number of other reports. Morgan Stanley increased their price target on shares of KeyCorp from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their target price on shares of KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. UBS Group upped their price target on shares of KeyCorp from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird cut KeyCorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $17.00 in a research report on Monday, October 14th. Finally, Barclays raised their price target on KeyCorp from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.79.

KeyCorp Trading Down 0.1 %

Shares of NYSE:KEY traded down $0.01 during mid-day trading on Thursday, hitting $19.15. The stock had a trading volume of 11,259,741 shares, compared to its average volume of 14,074,724. KeyCorp has a 12-month low of $10.73 and a 12-month high of $20.00. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $18.06 billion, a PE ratio of 1,908.00, a P/E/G ratio of 1.10 and a beta of 1.24. The company’s 50 day moving average is $16.88 and its 200-day moving average is $15.59.

Insider Activity

In related news, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $17.14, for a total transaction of $154,260.00. Following the completion of the sale, the director now owns 37,864 shares in the company, valued at $648,988.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carlton L. Highsmith sold 9,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $17.14, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Freestone Capital Holdings LLC acquired a new position in KeyCorp in the 1st quarter valued at approximately $561,000. Assenagon Asset Management S.A. boosted its stake 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 worth $18,598,000 after buying an additional 610,688 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in KeyCorp by 14.8% in the 3rd 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 period. MBB Public Markets I LLC bought a new stake in KeyCorp in the 2nd quarter valued at $981,000. Finally, Cetera Investment Advisers raised its stake in shares of KeyCorp by 274.4% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 79.69% 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.