CHURCHILL MANAGEMENT Corp Buys 2,173 Shares of KeyCorp (NYSE:KEY)

CHURCHILL MANAGEMENT Corp increased its holdings in shares of KeyCorp (NYSE:KEY) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 431,777 shares of the financial services provider’s stock after buying an additional 2,173 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in KeyCorp were worth $6,826,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in KEY. Korea Investment CORP raised its stake in KeyCorp by 237.2% during the 3rd quarter. Korea Investment CORP now owns 206,078 shares of the financial services provider’s stock worth $2,217,000 after buying an additional 144,972 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in KeyCorp during the 3rd quarter worth $381,000. FMR LLC raised its stake in shares of KeyCorp by 14.4% in the 3rd quarter. FMR LLC now owns 31,781,539 shares of the financial services provider’s stock valued at $341,969,000 after purchasing an additional 3,992,226 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of KeyCorp in the 3rd quarter valued at about $191,000. Finally, Hsbc Holdings PLC raised its stake in shares of KeyCorp by 17.5% in the 3rd quarter. Hsbc Holdings PLC now owns 2,425,664 shares of the financial services provider’s stock valued at $26,174,000 after purchasing an additional 361,147 shares during the period. Institutional investors and hedge funds own 79.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KEY. JPMorgan Chase & Co. dropped their price target on KeyCorp from $18.00 to $17.50 and set a “neutral” rating on the stock in a research note on Friday, June 14th. Evercore ISI lifted their price target on KeyCorp from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Royal Bank of Canada lifted their price target on KeyCorp from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Keefe, Bruyette & Woods raised their price objective on KeyCorp from $16.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Finally, Argus raised their price objective on KeyCorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.97.

KeyCorp Stock Down 0.3 %

NYSE KEY opened at $13.60 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.72. KeyCorp has a 1-year low of $9.10 and a 1-year high of $15.86. The company has a 50 day moving average of $14.44 and a 200-day moving average of $14.44. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 0.69 and a beta of 1.28.

KeyCorp (NYSE:KEY) last released its quarterly earnings results 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). KeyCorp had a net margin of 7.53% and a return on equity of 8.89%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. On average, equities research analysts expect that KeyCorp will post 1.13 earnings per share for the current fiscal year.

KeyCorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.205 per share. The ex-dividend date was Friday, May 24th. This represents a $0.82 annualized dividend and a yield of 6.03%. KeyCorp’s dividend payout ratio is currently 103.80%.

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.