KeyCorp $KEY Shares Sold by Sapient Capital LLC

Sapient Capital LLC lowered its position in shares of KeyCorp (NYSE:KEY) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,041,011 shares of the financial services provider’s stock after selling 26,248 shares during the quarter. Sapient Capital LLC owned about 0.10% of KeyCorp worth $21,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KEY. United Community Bank acquired a new stake in KeyCorp during the third quarter valued at approximately $27,000. Maseco LLP acquired a new stake in KeyCorp during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new stake in KeyCorp during the fourth quarter valued at approximately $30,000. Kelleher Financial Advisors acquired a new stake in KeyCorp during the third quarter valued at approximately $32,000. Finally, True Wealth Design LLC raised its stake in KeyCorp by 1,263.5% during the fourth quarter. True Wealth Design LLC now owns 1,718 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,592 shares in the last quarter. Institutional investors and hedge funds own 79.69% of the company’s stock.

KeyCorp Stock Performance

Shares of KEY stock opened at $21.05 on Monday. KeyCorp has a 12-month low of $15.28 and a 12-month high of $23.34. The firm has a market capitalization of $22.83 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 0.67 and a beta of 1.06. The business has a 50 day simple moving average of $20.74 and a 200 day simple moving average of $20.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

KeyCorp (NYSE:KEY) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. KeyCorp had a return on equity of 10.80% and a net margin of 17.03%.The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the company posted $0.38 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that KeyCorp will post 1.82 EPS for the current year.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, June 2nd. KeyCorp’s dividend payout ratio is 50.31%.

KeyCorp declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 13th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 13% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on KEY shares. Evercore restated an “outperform” rating on shares of KeyCorp in a research note on Tuesday, April 21st. Argus upped their price objective on KeyCorp from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. cut their price objective on KeyCorp from $24.50 to $22.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Jefferies Financial Group upped their target price on KeyCorp from $21.00 to $23.00 and gave the company a “hold” rating in a report on Friday, April 17th. Finally, The Goldman Sachs Group upped their target price on KeyCorp from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, April 17th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, KeyCorp presently has an average rating of “Moderate Buy” and a consensus price target of $23.18.

Insider Transactions at KeyCorp

In related news, insider Angela G. Mago sold 22,826 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.66, for a total value of $494,411.16. Following the completion of the transaction, the insider directly owned 281,564 shares of the company’s stock, valued at $6,098,676.24. This represents a 7.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is owned by company insiders.

KeyCorp Profile

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.