Tegean Capital Management buys $7,793,500 stake in KeyCorp (KEY)

KeyCorp (KEY) : Tegean Capital Management scooped up 349,800 additional shares in KeyCorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 650,000 shares of KeyCorp which is valued at $7,793,500.KeyCorp makes up approximately 9.55% of Tegean Capital Management’s portfolio.

Other Hedge Funds, Including , Alesco Advisors reduced its stake in KEY by selling 19,381 shares or 9.64% in the most recent quarter. The Hedge Fund company now holds 181,588 shares of KEY which is valued at $2,177,240. KeyCorp makes up approx 0.17% of Alesco Advisors’s portfolio.Indexiq Advisors boosted its stake in KEY in the latest quarter, The investment management firm added 34,001 additional shares and now holds a total of 84,764 shares of KeyCorp which is valued at $1,016,320. KeyCorp makes up approx 0.06% of Indexiq Advisors’s portfolio.Rafferty Asset Management boosted its stake in KEY in the latest quarter, The investment management firm added 240,226 additional shares and now holds a total of 648,207 shares of KeyCorp which is valued at $7,856,269. KeyCorp makes up approx 0.49% of Rafferty Asset Management’s portfolio.Neuberger Berman Group boosted its stake in KEY in the latest quarter, The investment management firm added 643,705 additional shares and now holds a total of 1,249,020 shares of KeyCorp which is valued at $15,312,985. KeyCorp makes up approx 0.02% of Neuberger Berman Group’s portfolio.Fuller Thaler Asset Management reduced its stake in KEY by selling 2,764,792 shares or 39.06% in the most recent quarter. The Hedge Fund company now holds 4,312,833 shares of KEY which is valued at $52,875,333. KeyCorp makes up approx 0.86% of Fuller Thaler Asset Management’s portfolio.

KeyCorp closed down -0.12 points or -0.96% at $12.44 with 1,31,30,095 shares getting traded on Thursday. Post opening the session at $12.6, the shares hit an intraday low of $12.3 and an intraday high of $12.64 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, KeyCorp reported $0.27 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 26, 2016. Analyst had a consensus of $0.28. The company had revenue of $1078.00 million for the quarter, compared to analysts expectations of $1082.02 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on KeyCorp. KeyCorp was Downgraded by Piper Jaffray to ” Neutral” on Aug 29, 2016. KeyCorp was Resumed by JP Morgan to “Overweight” on Jul 25, 2016. KeyCorp was Upgraded by FBR Capital to ” Outperform” on Jul 11, 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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