Cramer Rosenthal Mcglynn buys $150,053,288 stake in KeyCorp (KEY)

KeyCorp (KEY) : Cramer Rosenthal Mcglynn scooped up 3,439,875 additional shares in KeyCorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 8,937,063 shares of KeyCorp which is valued at $150,053,288.KeyCorp makes up approximately 2.27% of Cramer Rosenthal Mcglynn’s portfolio.

Other Hedge Funds, Including , Allianz Asset Management Ag reduced its stake in KEY by selling 134,487 shares or 5.06% in the most recent quarter. The Hedge Fund company now holds 2,525,667 shares of KEY which is valued at $42,405,949. KeyCorp makes up approx 0.06% of Allianz Asset Management Ag’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in KEY by selling 16,691 shares or 6.93% in the most recent quarter. The Hedge Fund company now holds 224,299 shares of KEY which is valued at $3,128,971. KeyCorp makes up approx 0.03% of Public Employees Retirement Association Of Colorado’s portfolio. Mai Capital Management sold out all of its stake in KEY during the most recent quarter. The investment firm sold 12,932 shares of KEY which is valued $159,710.

KeyCorp opened for trading at $17.05 and hit $17.1 on the upside on Monday, eventually ending the session at $17.01, with a gain of 0.06% or 0.01 points. The heightened volatility saw the trading volume jump to 1,64,80,732 shares. Company has a market cap of $18,383 M.

On the company’s financial health, KeyCorp reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.26. The company had revenue of $1337.00 million for the quarter, compared to analysts expectations of $1312.96 million. The company’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Investors should note that on Nov 17, 2016, KeyCorp announced a cash dividend of $0.0850. The company’s management has announced Nov 25, 2016 as the ex-dividend date and fixed the record date on Nov 29, 2016. The payable date has been fixed on Dec 15, 2016.

Many Wall Street Analysts have commented on KeyCorp. KeyCorp was Downgraded by Bernstein to ” Mkt Perform” on Nov 16, 2016. KeyCorp was Downgraded by Susquehanna to ” Neutral” on Nov 9, 2016. KeyCorp was Downgraded by Citigroup to ” Neutral” on Nov 8, 2016.

KeyCorp is a bank holding company. The Bank operates through its subsidiary KeyBank National Association which is engaged in providing banking services. Through KeyBank and other subsidiaries the Bank provides a range of retail and commercial banking commercial leasing investment management consumer finance commercial mortgage servicing and special servicing and investment banking products and services. The Bank provides these services to individual corporate and institutional clients. The Bank operates in two segments: Key Community Bank which serves individuals and small to mid-sized businesses by offering a variety of deposit investment lending credit card and personalized wealth management products and business advisory services and Key Corporate Bank is a full-service corporate and investment bank focused on serving the needs of middle market clients in seven industry sectors: consumer energy healthcare industrial public sector real estate and technology.

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