Cramer Rosenthal Mcglynn LLC Lowered Its Position in Keycorp (KEY) as Market Value Declined

July 17, 2017 - By Adrian Mccoy

Investors sentiment decreased to 0.87 in 2016 Q4. Its down 1.18, from 2.05 in 2016Q3. It turned negative, as 61 investors sold KEY shares while 226 reduced holdings. 77 funds opened positions while 174 raised stakes. 851.55 million shares or 3.53% more from 822.54 million shares in 2016Q3 were reported. British Columbia Investment Mgmt Corporation invested in 719,454 shares or 0.12% of the stock. Texas Permanent School Fund reported 323,741 shares stake. 6.14M are owned by National Bank Of Montreal Can. State Street reported 59.95M shares. 289,048 are held by Los Angeles Mgmt And Equity Incorporated. Da Davidson & owns 33,137 shares. Franklin Resource has 330,295 shares. Schwab Charles Investment Mngmt owns 0.06% invested in KeyCorp (NYSE:KEY) for 3.22M shares. Janus Capital Mgmt Lc reported 293,988 shares. California State Teachers Retirement System holds 0.09% or 2.31 million shares in its portfolio. Caldwell Orkin Inc reported 48,200 shares. Cadence Cap Mgmt Lc holds 0.05% or 38,847 shares. Kanaly stated it has 1,781 shares. Castine Capital Mngmt Ltd Liability Com holds 5.07% in KeyCorp (NYSE:KEY) or 664,486 shares. Fukoku Mutual Life Ins has 0.03% invested in KeyCorp (NYSE:KEY).

Since February 8, 2017, it had 2 insider purchases, and 3 selling transactions for $3.46 million activity. Shares for $3.07 million were sold by Burke Edward J.. 4,800 KeyCorp (NYSE:KEY) shares with value of $84,768 were bought by GILLIS RUTH ANN M. Evans Trina M had sold 12,500 shares worth $227,875. $94 worth of KeyCorp (NYSE:KEY) shares were bought by COOLEY CHARLES P. $240,053 worth of KeyCorp (NYSE:KEY) was sold by Schosser Douglas M on Tuesday, May 9.

Cramer Rosenthal Mcglynn Llc decreased its stake in Keycorp (KEY) by 16.71% based on its latest 2016Q4 regulatory filing with the SEC. Cramer Rosenthal Mcglynn Llc sold 1.49 million shares as the company’s stock declined 6.49% while stock markets rallied. The institutional investor held 7.44 million shares of the major banks company at the end of 2016Q4, valued at $135.99 million, down from 8.94M at the end of the previous reported quarter. Cramer Rosenthal Mcglynn Llc who had been investing in Keycorp for a number of months, seems to be less bullish one the $20.81 billion market cap company. The stock declined 0.05% or $0.01 reaching $19.13 per share. About 8.72 million shares traded. KeyCorp (NYSE:KEY) has risen 43.10% since July 17, 2016 and is uptrending. It has outperformed by 26.40% the S&P500.

Cramer Rosenthal Mcglynn Llc, which manages about $14.64B and $6.74 billion US Long portfolio, upped its stake in Palo Alto Networks Inc (NYSE:PANW) by 138,735 shares to 585,014 shares, valued at $73.16 million in 2016Q4, according to the filing. It also increased its holding in Air Products & Chemicals (NYSE:APD) by 43,555 shares in the quarter, for a total of 509,410 shares, and has risen its stake in Treehouse Foods Inc (NYSE:THS).

Investors wait KeyCorp (NYSE:KEY) to report on July, 25. its quarterly earnings Wall Street analysts expect $0.34 earnings per share, up $0.07 or 25.93 % from last year’s $0.27 same quarter earnings. This translates into $369.86M profit for KEY giving the stock a 14.07 P/E. This is assuming the current $0.34 EPS is accurate. KeyCorp’s Wall Street analysts see 6.25 % EPS growth, taking into account the $0.32 EPS reproted in the previous quarter,

More notable recent KeyCorp (NYSE:KEY) news were published by: Cleveland.com which released: “PNC, KeyCorp, other banks plan big dividend increases to shareholders” on June 30, 2017, also Nasdaq.com with their article: “KeyCorp (KEY) Closes HelloWallet Purchase from Morningstar” published on July 05, 2017, Benzinga.com published: “KeyCorp Shares Upgraded To Buy At UBS” on July 10, 2017. More interesting news about KeyCorp (NYSE:KEY) were released by: Prnewswire.com and their article: “KeyCorp Announces CCAR Capital Plan Which Includes Two Common Stock Dividend …” published on June 28, 2017 as well as Bizjournals.com‘s news article titled: “KeyCorp has sealed the deal on this District-based personal finance company” with publication date: July 03, 2017.

KeyCorp (NYSE:KEY) Ratings Coverage

Among 30 analysts covering Keycorp (NYSE:KEY), 16 have Buy rating, 2 Sell and 12 Hold. Therefore 53% are positive. Keycorp had 71 analyst reports since July 20, 2015 according to SRatingsIntel. The stock has “Outperform” rating by FBR Capital on Monday, July 11. The company was upgraded on Tuesday, October 25 by Rafferty. The rating was downgraded by Piperjaffray on Monday, August 29 to “Neutral”. Susquehanna downgraded the shares of KEY in report on Wednesday, November 9 to “Neutral” rating. The stock of KeyCorp (NYSE:KEY) has “Neutral” rating given on Tuesday, November 8 by Citigroup. The firm earned “Outperform” rating on Tuesday, October 25 by FBR Capital. Jefferies upgraded KeyCorp (NYSE:KEY) on Monday, November 23 to “Buy” rating. As per Friday, January 20, the company rating was downgraded by Sandler O’Neill. As per Monday, January 11, the company rating was upgraded by Goldman Sachs. Keefe Bruyette & Woods upgraded the shares of KEY in report on Monday, November 2 to “Outperform” rating.

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