Sapient Capital LLC Decreases Stock Position in KeyCorp (NYSE:KEY)

Sapient Capital LLC lessened its stake in shares of KeyCorp (NYSE:KEY) by 4.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 40,429 shares of the financial services provider’s stock after selling 1,788 shares during the period. Sapient Capital LLC’s holdings in KeyCorp were worth $639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KEY. Bruce G. Allen Investments LLC purchased a new stake in KeyCorp in the fourth quarter worth $26,000. Sound Income Strategies LLC increased its stake in KeyCorp by 3,600.0% in the fourth quarter. Sound Income Strategies LLC now owns 1,887 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,836 shares during the period. First United Bank & Trust purchased a new stake in KeyCorp in the fourth quarter worth $29,000. Baldwin Brothers LLC MA purchased a new stake in KeyCorp in the fourth quarter worth $35,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in KeyCorp in the third quarter worth $28,000. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Insider Transactions at KeyCorp

In other news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Douglas M. Schosser sold 3,326 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.00, for a total transaction of $46,564.00. Following the completion of the transaction, the chief accounting officer now directly owns 19,795 shares of the company’s stock, valued at approximately $277,130. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Trina M. Evans sold 12,335 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $14.23, for a total value of $175,527.05. Following the completion of the transaction, the director now directly owns 81,622 shares of the company’s stock, valued at $1,161,481.06. The disclosure for this sale can be found here. In the last three months, insiders sold 21,442 shares of company stock valued at $303,914. Corporate insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on KEY. Piper Sandler increased their target price on KeyCorp from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Argus raised their price target on KeyCorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wells Fargo & Company raised their price objective on KeyCorp from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Morgan Stanley raised their price objective on KeyCorp from $12.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Evercore ISI lifted their price target on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.71.

KeyCorp Stock Performance

KeyCorp stock traded down $0.24 during mid-day trading on Tuesday, reaching $14.49. 10,761,283 shares of the company were exchanged, compared to its average volume of 16,311,131. KeyCorp has a twelve month low of $8.53 and a twelve month high of $15.86. The firm’s 50-day simple moving average is $14.78 and its two-hundred day simple moving average is $13.64. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $13.44 billion, a PE ratio of 18.34 and a beta of 1.29.

KeyCorp (NYSE:KEY) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. KeyCorp had a return on equity of 8.89% and a net margin of 7.53%. The firm’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. Equities analysts predict that KeyCorp will post 1.15 earnings per share for the current fiscal year.

KeyCorp Company Profile

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.