Citigroup Adjusts KeyCorp’s Outlook from Buy to Neutral
On November 7, 2024, Citigroup unexpectedly changed its rating on KeyCorp (WBAG:KEY) from Buy to Neutral, indicating a shift in market sentiment.
Analyzing Fund Sentiment
A total of 1,431 funds and institutions have reported holding positions in KeyCorp. This marks an increase of 8 new owners, or 0.56%, in the last quarter. The average portfolio weight of all funds in KeyCorp stands at 0.16%, reflecting a rise of 8.10%. Moreover, institutional ownership has grown by 6.08% over the past three months, now totaling 855,174K shares.
Charles Schwab Investment Management currently owns 30,613K shares, equating to 3.09% of KeyCorp. This is up from 30,271K shares in the previous report, demonstrating a modest increase of 1.11%. However, the firm reduced its portfolio allocation in KeyCorp by 24.99% last quarter.
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 29,663K shares, representing 2.99% ownership of KeyCorp. This is an increase from the previous 29,466K shares, reflecting a rise of 0.66%. Like others, the firm also decreased its stake in KeyCorp, with a reduction of 12.01% last quarter.
Fuller & Thaler Asset Management holds 27,522K shares, accounting for 2.78% ownership. The firm increased its holdings from 26,792K shares, marking a gain of 2.65%, although it cut its portfolio allocation by 9.38% over the last quarter.
Vanguard 500 Index Fund Investor Shares (VFINX) owns 24,199K shares, which is 2.44% of the company. This is an increase from 23,602K shares, up by 2.47%, with a portfolio allocation decrease of 12.77% over the past quarter.
The Undiscovered Managers Behavioral Value Fund Class L (UBVLX) reports holding 22,221K shares, constituting 2.24% ownership, up from 21,541K shares—an increase of 3.06%. However, it too has reduced its portfolio allocation in KeyCorp by 7.11% last quarter.
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