Hexagon Capital Partners LLC Grows Position in KeyCorp (NYSE:KEY)

Hexagon Capital Partners LLC grew its stake in KeyCorp (NYSE:KEY) by 189.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,311 shares of the financial services provider’s stock after buying an additional 1,513 shares during the period. Hexagon Capital Partners LLC’s holdings in KeyCorp were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brookstone Capital Management raised its stake in KeyCorp by 14.7% in the 3rd quarter. Brookstone Capital Management now owns 11,681 shares of the financial services provider’s stock worth $196,000 after acquiring an additional 1,501 shares during the last quarter. Atomi Financial Group Inc. boosted its position in KeyCorp by 22.1% in the third quarter. Atomi Financial Group Inc. now owns 41,471 shares of the financial services provider’s stock valued at $695,000 after buying an additional 7,493 shares during the last quarter. Axiom Advisory LLC boosted its position in KeyCorp by 3.2% in the third quarter. Axiom Advisory LLC now owns 120,276 shares of the financial services provider’s stock valued at $1,908,000 after buying an additional 3,691 shares during the last quarter. Mather Group LLC. increased its holdings in KeyCorp by 16.7% in the 3rd quarter. Mather Group LLC. now owns 12,276 shares of the financial services provider’s stock worth $206,000 after buying an additional 1,755 shares during the period. Finally, GAMMA Investing LLC increased its holdings in KeyCorp by 5.7% in the 3rd quarter. GAMMA Investing LLC now owns 24,726 shares of the financial services provider’s stock worth $414,000 after buying an additional 1,338 shares during the period. 79.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KEY shares. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $15.00 in a report on Monday, July 8th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $18.00 price target on shares of KeyCorp in a report on Tuesday, September 10th. Citigroup increased their price target on shares of KeyCorp from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. DA Davidson raised their price objective on shares of KeyCorp from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. cut their target price on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating for the company in a report on Thursday, June 27th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.22.

KeyCorp Price Performance

Shares of NYSE KEY opened at $17.22 on Friday. The firm has a market cap of $16.24 billion, a PE ratio of 22.36, a PEG ratio of 0.94 and a beta of 1.25. The firm has a fifty day moving average of $16.25 and a 200 day moving average of $15.27. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 0.85. KeyCorp has a one year low of $9.50 and a one year high of $17.47.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.52 billion. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. As a group, research analysts predict that KeyCorp will post 1.08 EPS for the current fiscal 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.