KeyCorp (NYSE:KEY) Rating Increased to Buy at Citigroup

KeyCorp (NYSE:KEY) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $20.00 target price on the financial services provider’s stock. Citigroup’s price objective suggests a potential upside of 27.02% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Stephens restated an “overweight” rating and issued a $20.00 price target on shares of KeyCorp in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.50 target price on shares of KeyCorp in a report on Monday, February 3rd. Truist Financial began coverage on KeyCorp in a research report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Piper Sandler raised their target price on shares of KeyCorp from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, KeyCorp presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

KeyCorp Stock Down 1.2 %

KEY stock opened at $15.75 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77. The company’s 50-day moving average price is $17.37 and its 200 day moving average price is $17.49. KeyCorp has a 52 week low of $13.11 and a 52 week high of $20.04. The company has a market cap of $17.40 billion, a P/E ratio of -52.48, a P/E/G ratio of 0.65 and a beta of 1.26.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was bought at an average price of $17.85 per share, with a total value of $892,500.00. Following the purchase, the director now directly owns 162,983,726 shares in the company, valued at $2,909,259,509.10. The trade was a 0.03 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KeyCorp

Several hedge funds have recently modified their holdings of KEY. Principal Financial Group Inc. boosted its holdings in shares of KeyCorp by 3.4% in the 4th quarter. Principal Financial Group Inc. now owns 1,117,238 shares of the financial services provider’s stock valued at $19,149,000 after purchasing an additional 36,424 shares during the last quarter. Truist Financial Corp grew its position in KeyCorp by 27.1% during the fourth quarter. Truist Financial Corp now owns 95,856 shares of the financial services provider’s stock valued at $1,643,000 after acquiring an additional 20,424 shares during the period. Avanza Fonder AB acquired a new stake in KeyCorp during the fourth quarter worth about $1,618,000. Dai ichi Life Insurance Company Ltd purchased a new position in shares of KeyCorp in the 3rd quarter worth about $798,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of KeyCorp by 13.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 304,565 shares of the financial services provider’s stock worth $5,101,000 after purchasing an additional 36,444 shares during the period. 79.69% of the stock is owned by institutional investors and hedge funds.

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.