Sapient Capital LLC Has $16.20 Million Holdings in KeyCorp $KEY

Sapient Capital LLC lessened its position in shares of KeyCorp (NYSE:KEY) by 22.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 808,382 shares of the financial services provider’s stock after selling 232,629 shares during the period. Sapient Capital LLC owned 0.07% of KeyCorp worth $16,201,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KEY. MCF Advisors LLC lifted its position in shares of KeyCorp by 31.6% during the 4th quarter. MCF Advisors LLC now owns 1,898 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 456 shares during the period. Prime Capital Investment Advisors LLC boosted its position in shares of KeyCorp by 1.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,498 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 486 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of KeyCorp by 19.0% in the 4th quarter. Harbour Investments Inc. now owns 3,180 shares of the financial services provider’s stock valued at $66,000 after buying an additional 508 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of KeyCorp by 5.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 10,265 shares of the financial services provider’s stock valued at $206,000 after buying an additional 522 shares during the period. Finally, J.W. Cole Advisors Inc. increased its position in KeyCorp by 3.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 15,082 shares of the financial services provider’s stock valued at $311,000 after buying an additional 547 shares in the last quarter. 79.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on KEY. Morgan Stanley raised their price objective on KeyCorp from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Stephens assumed coverage on shares of KeyCorp in a research note on Monday, June 15th. They set an “overweight” rating and a $26.00 price target for the company. Argus raised shares of KeyCorp to a “strong-buy” rating in a research note on Wednesday, July 29th. Truist Financial upped their target price on shares of KeyCorp from $23.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, June 24th. Finally, DA Davidson reiterated a “buy” rating and set a $28.00 price target on shares of KeyCorp in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.14.

KeyCorp Stock Performance

Shares of KEY opened at $22.61 on Monday. The stock has a 50 day moving average of $22.60 and a 200 day moving average of $21.64. The company has a market capitalization of $24.40 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.74 and a beta of 1.02. KeyCorp has a 12 month low of $16.47 and a 12 month high of $24.07. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.63.

KeyCorp (NYSE:KEY) last announced its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. KeyCorp had a return on equity of 11.23% and a net margin of 17.83%.The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the company earned $0.35 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. As a group, sell-side analysts forecast that KeyCorp will post 1.83 earnings per share for the current year.

KeyCorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 1st. KeyCorp’s dividend payout ratio (DPR) is 47.67%.

KeyCorp announced that its board has initiated a share buyback program on Wednesday, May 13th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 13% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other KeyCorp news, insider Angela G. Mago sold 22,826 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.66, for a total value of $494,411.16. Following the transaction, the insider directly owned 281,564 shares in the company, valued at $6,098,676.24. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.56% of the company’s stock.

About KeyCorp

KeyCorp is a bank holding company headquartered in Cleveland, Ohio, that operates through its primary banking subsidiary, KeyBank. It provides a broad range of banking and financial services to individual consumers, small businesses, middle-market companies and large corporations. KeyBank’s offerings span traditional deposit and lending products as well as more specialized financial solutions designed for commercial and institutional clients.

The company’s product and service mix includes retail banking products such as checking and savings accounts, consumer and residential mortgage lending, and auto financing.