Sapient Capital LLC Cuts Stake in KeyCorp (NYSE:KEY)

Sapient Capital LLC lowered its stake in shares of KeyCorp (NYSE:KEY) by 15.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,251 shares of the financial services provider’s stock after selling 6,297 shares during the period. Sapient Capital LLC’s holdings in KeyCorp were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in KeyCorp during the 1st quarter valued at about $25,000. Crewe Advisors LLC acquired a new stake in KeyCorp during the 1st quarter worth approximately $32,000. Quarry LP acquired a new stake in KeyCorp during the 4th quarter worth approximately $38,000. Fidelis Capital Partners LLC acquired a new stake in KeyCorp during the 1st quarter worth approximately $39,000. Finally, Hexagon Capital Partners LLC increased its position in shares of KeyCorp by 189.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 2,311 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 1,513 shares during the last quarter. Hedge funds and other institutional investors own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on KEY shares. JPMorgan Chase & Co. dropped their target price on shares of KeyCorp from $17.50 to $16.50 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. UBS Group downgraded shares of KeyCorp from a “buy” rating to a “neutral” rating and dropped their target price for the company from $16.00 to $15.00 in a research report on Monday, July 8th. Robert W. Baird downgraded shares of KeyCorp from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $17.00 in a research report on Monday. Evercore ISI increased their target price on shares of KeyCorp from $18.50 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Citigroup increased their target price on shares of KeyCorp from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.21.

Insider Buying and Selling at KeyCorp

In related news, Director Carlton L. Highsmith sold 10,000 shares of KeyCorp stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the completion of the transaction, the director now directly owns 46,864 shares of the company’s stock, valued at $759,665.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

KeyCorp Trading Up 1.0 %

Shares of KeyCorp stock opened at $17.40 on Tuesday. The company’s fifty day simple moving average is $16.37 and its 200-day simple moving average is $15.30. The company has a market cap of $16.41 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 0.94 and a beta of 1.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. KeyCorp has a 1 year low of $9.50 and a 1 year high of $17.47.

KeyCorp (NYSE:KEY) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. KeyCorp had a net margin of 7.35% and a return on equity of 8.64%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the company earned $0.27 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that KeyCorp will post 1.08 EPS for the current year.

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.