Despite a Top Line Beat KeyCorp (KEY) Doesn’t Offer The Most Promising Of Prospects

Page 2 of 2

How are hedge funds trading KeyCorp (NYSE:KEY)?

According to hedge fund experts at Insider Monkey, Citadel Investment Group, managed by Ken Griffin, holds the most valuable position in KeyCorp (NYSE:KEY). Citadel Investment Group has a $173.4 million position in the stock, comprising 0.2% of its 13F portfolio. Coming in second is Israel Englander of Millennium Management, with a $95.9 million position; the fund manager has 0.2% of his 13F portfolio invested in the stock. Other members of the smart money that hold long positions contain Clint Carlson‘s Carlson Capital, Richard S. Pzena’s Pzena Investment Management, and Cliff Asness’ AQR Capital Management.

As industrywide interest jumped, specific money managers were breaking ground themselves. Sirios Capital Management, managed by John Brennan, assembled the largest position in KeyCorp (NYSE:KEY). Sirios Capital Management had $46.1 million invested in the company at the end of the quarter. Malcolm Fairbairn’s Ascend Capital also made a $13.2 million investment in the stock during the quarter. The other funds with brand new Key positions are Emanuel J. Friedman’s EJF Capital, Peter Muller’s PDT Partners, and Matthew Tewksbury’s Stevens Capital Management.

In light of a bottom line miss, declining interest margin, and overall bearish sentiment from hedge funds in terms of invested capital, we would advise investors to stay away from KeyCorp (NYSE:KEY) and look for more profitable opportunities in the sector.

Disclosure: None

Page 2 of 2