Sapient Capital LLC Purchases 1,137,798 Shares of KeyCorp (NYSE:KEY)

Sapient Capital LLC grew its position in KeyCorp (NYSE:KEY) by 3,321.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,172,049 shares of the financial services provider’s stock after buying an additional 1,137,798 shares during the quarter. Sapient Capital LLC’s holdings in KeyCorp were worth $20,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Azora Capital LP bought a new position in KeyCorp during the 3rd quarter worth about $92,413,000. Assenagon Asset Management S.A. boosted its stake in shares of KeyCorp by 280.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,976,965 shares of the financial services provider’s stock valued at $83,364,000 after purchasing an additional 3,668,168 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in KeyCorp by 108.3% during the third quarter. Thrivent Financial for Lutherans now owns 5,852,233 shares of the financial services provider’s stock valued at $98,025,000 after buying an additional 3,042,060 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in KeyCorp by 164.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,660,680 shares of the financial services provider’s stock worth $78,066,000 after buying an additional 2,900,971 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in KeyCorp by 279.6% during the third quarter. Victory Capital Management Inc. now owns 3,788,173 shares of the financial services provider’s stock worth $63,452,000 after buying an additional 2,790,192 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Trading Down 1.8 %

Shares of NYSE KEY opened at $17.52 on Tuesday. KeyCorp has a 52 week low of $13.10 and a 52 week high of $20.04. The business’s 50 day moving average price is $17.71 and its 200 day moving average price is $17.28. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.77.

KeyCorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.68%. KeyCorp’s payout ratio is currently -273.32%.

Insider Buying and Selling

In related news, Director Of Nova Scotia Bank bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were purchased at an average cost of $17.85 per share, with a total value of $892,500.00. Following the completion of the acquisition, the director now directly owns 162,983,726 shares in the company, valued at approximately $2,909,259,509.10. The trade was a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KEY. Truist Financial started coverage on KeyCorp in a report on Tuesday, January 7th. They issued a “hold” rating and a $19.00 price target on the stock. DA Davidson cut their target price on KeyCorp from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Citigroup lowered shares of KeyCorp from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on shares of KeyCorp from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of KeyCorp from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.69.

KeyCorp 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.