Stick With KeyCorp (KEY). The Bull Are Alive And Well


    BlackRock Fund Advisors recently announced the acquisition of new stake in KeyCorp (NYSE:KEY). The institutional investor has increased its shareholding in the Financial company by 2.32% to 63.11 million shares with purchase of 1.43 million shares. This fresh investment now brings its stake to 6.47% valued currently at $757.96 million. In addition, Capital Research & Management Co.. raised its holdings by 2.16 million to 41.9 million shares. And Boston Partners Global Investors,.. has lifted its position by 24.99% or 7.34 million shares – to 36.69 million shares.

    With over 15.16 million KeyCorp (KEY) shares trading Monday and a closing price of $12.32 on the day, the dollar volume was approximately $186.72 million. The shares have shown a negative weekly performance of -0.56% and its price on 08/31/20 lost nearly -3.52%. Currently, there are 976.00M common shares owned by the public and among those 970.32M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for KEY have a consensus price objective of $13.73. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $12.00 should the stock experience a downside. Incidentally, analysts’ outlook for the KeyCorp stock is 2.70 for the next 12 months. The average price target is 11.43% above its last price level and an upside to the estimated low will see the stock lose -2.67% over that period. But an upside of 23.0% will see the stock hit the forecast high price target while mean target price for the stock is $14.00.

    Insiders at the company have transacted a total of 102 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 51 of these insider trades were purchases, accounting for 1,950,651 shares. Insider sales of the common stock occurred on 51 occasions, with total insider shares sold totaling 1,415,807 shares.

    The top 3 mutual fund holders in KeyCorp are Washington Mutual Investors Fund, Vanguard Total Stock Market Index, and Vanguard Mid Cap Index Fund. Washington Mutual Investors Fund owns 37.04 million shares of the company’s stock, all valued at over $444.84 million. The company bought an additional 18.23 million shares recently to bring their total holdings to about 3.80% of the shares outstanding. Vanguard Total Stock Market Index sold 12790.0 shares to see its total holdings shrink to 27.71 million shares valued at over $332.79 million and representing 2.84% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.17 million shares to bring its total holdings to over 23.94 million shares at a value of $287.55 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.45% of the shares outstanding.

    Shares of KeyCorp (NYSE: KEY) opened at $12.55, down -$0.22 from a prior closing price of $12.77. However, the script later closed the day at $12.32, down -3.52%. The company’s stock has a 5-day price change of -0.56% and 2.84% over the past three months. KEY shares are trading -39.13% year to date (YTD), with the 12-month market performance down to -25.78% lower. It has a 12-month low price of $7.45 and touched a high of $20.52 over the same period. Currently, 15.16 million shares have been traded, compared to an average intraday trading volume of 11.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.84%, 0.87%, and -15.65% respectively.

    Institutional ownership of KeyCorp (NYSE: KEY) shares accounts for 86.30% of the company’s 976.00M shares outstanding. Mutual fund holders own 29.23%, while other institutional holders and individual stakeholders account for 53.93% and 0.94% respectively.

    It has a market capitalization of $11.93B and a beta (3y monthly) value of 1.51. The stock’s trailing 12-month PE ratio is 11.06, while the earnings-per-share (ttm) stands at $1.11. The company has a debt-to-equity ratio at 0.88. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.63% over the week and 2.90% over the month.

    Analysts forecast that KeyCorp (KEY) will achieve an EPS of $0.31 for the current quarter, $0.33 for the next quarter and $1.27 for 2021. The lowest estimate earnings-per-share for the quarter is $0.07 while analysts give the company a high EPS estimate of $0.45. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.50%, and 38.73% over the next financial year. EPS should shrink at an annualized rate of -12.60% over the next five years, compared to 9.00% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate KeyCorp (KEY) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 11 of the 23 advise that investors “hold,” and 3 rated it as a “Sell.”

    Looking at the support for the KEY, a number of firms have released research notes about the stock. Wolfe Research stated their Underperform rating for the stock in a research note on July 31, 2020, with the firm’s price target at. Odeon coverage for the KeyCorp (KEY) stock in a research note released on July 22, 2020 offered a Hold rating with a price target of. BofA Securities was of a view on July 10, 2020 that the stock is Underperform, while Odeon gave the stock Buy rating on June 08, 2020, issuing a price target of. Stephens on their part issued Equal-Weight rating on June 03, 2020.


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