KeyCorp

(New York Stock Exchange)
Back to all articles
Slightly Bullish +15

Insider Selling: KeyCorp (NYSE:KEY) Insider Sells $829,556.00 in Stock

Insider transaction AI-generated analysis

πŸ“‰ Insider Andrew Paine III sold 39,130 shares of KeyCorp stock on October 28th for $829,556, reducing his direct position by 16.96%.

πŸ“ˆ KeyCorp reported quarterly earnings of $0.51 per share on October 20th, beating the consensus estimate of $0.46.

πŸ’° The company generated revenue of $2.05 billion for the quarter, matching analyst expectations exactly.

πŸ“Š KeyCorp achieved a net margin of 18.56% and a return on equity of 12.06% during the reported period.

🏦 Revenue grew by 8.3% year-over-year, demonstrating continued business expansion for the financial services provider.

πŸ“‰ Bank of Nova Scotia added a new stake in KeyCorp valued at $3.64 billion during the second quarter.

πŸ“‰ BlackRock Inc. purchased a new position in KeyCorp shares worth approximately $2.04 billion in the second quarter.

πŸ“‰ Deutsche Bank AG established a new position in KeyCorp valued at roughly $380 million in the second quarter.

πŸ“ˆ Wells Fargo & Company raised its price target on KeyCorp from $24.00 to $27.00 with an 'overweight' rating.

πŸ“‰ JPMorgan Chase & Co. lowered its price objective on KeyCorp from $24.50 to $23.00 with a 'neutral' rating.

πŸ“‰ Jefferies Financial Group decreased its price target on KeyCorp from $24.00 to $22.00 and assigned a 'hold' rating.

🎯 The stock carries a consensus analyst rating of 'Moderate Buy' with a consensus price target of $46.22.

Bullish Signals
  • KeyCorp beat quarterly earnings expectations, reporting $0.51 per share versus the consensus estimate of $0.46.
  • The company achieved a net margin of 18.56% and a return on equity of 12.06%, indicating strong profitability.
  • Revenue increased by 8.3% year-over-year to reach $2.05 billion, showing solid business growth.
  • Major institutional investors including Bank of Nova Scotia and BlackRock Inc. added significant new stakes in the second quarter.
  • Wells Fargo & Company raised its price target on KeyCorp to $27.00 and maintained an 'overweight' rating.
Risk Factors
  • Insider Andrew Paine III sold a substantial portion of his holdings, reducing his position by 16.96% in a single transaction.
  • JPMorgan Chase & Co. lowered its price objective on KeyCorp from $24.50 to $23.00 and downgraded the rating to 'neutral'.
  • Jefferies Financial Group decreased its price target on KeyCorp from $24.00 to $22.00 and assigned a 'hold' rating.
  • Royal Bank Of Canada reduced its price target on KeyCorp from $25.00 to $24.00 despite maintaining an 'outperform' rating.
Full Analysis
KeyCorp (NYSE:KEY) saw insider Andrew Paine III sell 39,130 shares of company stock on October 28th for a total transaction value of $829,556. The sale was executed at an average price of $21.20 per share, representing a 16.96% decrease in the insider's direct holdings, which now stand at 191,571 shares valued at approximately $4.06 million. Financially, KeyCorp reported quarterly earnings on October 20th that beat consensus estimates, with earnings per share of $0.51 compared to the expected $0.46 and revenue of $2.05 billion matching expectations. The company achieved a net margin of 18.56% and a return on equity of 12.06%, with year-over-year revenue growth of 8.3%. Analysts project full-year earnings per share of 1.88. Institutional ownership remains strong at 79.69%, with significant new positions added by major firms including Bank of Nova Scotia, BlackRock Inc., and Deutsche Bank AG in the second quarter. Research analyst sentiment is mixed but generally positive, with a consensus rating of 'Moderate Buy' and a consensus price target of $46.22, though recent targets from JPMorgan Chase and Jefferies have been lowered.