Bank Of New York Mellon Corporation (The) (BK) Stake Lowered by E&G Advisors LP

E&G Advisors LP lessened its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,400 shares of the bank’s stock after selling 1,000 shares during the quarter. E&G Advisors LP’s holdings in Bank Of New York Mellon Corporation (The) were worth $339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Interstate Bank boosted its holdings in shares of Bank Of New York Mellon Corporation (The) by 56.2% in the 2nd quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock valued at $119,000 after buying an additional 842 shares during the last quarter. Exane Derivatives acquired a new stake in shares of Bank Of New York Mellon Corporation (The) in the 2nd quarter valued at approximately $130,000. Hudock Capital Group LLC boosted its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after buying an additional 7 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Bank Of New York Mellon Corporation (The) by 15.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after purchasing an additional 363 shares during the last quarter. Finally, Burt Wealth Advisors lifted its holdings in Bank Of New York Mellon Corporation (The) by 2,186.7% during the 2nd quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock valued at $139,000 after purchasing an additional 2,624 shares during the last quarter. 82.71% of the stock is owned by institutional investors.

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In related news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total transaction of $303,969,164.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Gerald L. Hassell sold 1,788 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total value of $94,835.52. Following the sale, the chairman now directly owns 872,606 shares in the company, valued at approximately $46,283,022.24. The disclosure for this sale can be found here. Insiders have sold a total of 17,761,019 shares of company stock worth $939,813,259 in the last three months. 3.60% of the stock is currently owned by insiders.

Shares of Bank Of New York Mellon Corporation (NYSE BK) traded up 0.554% on Wednesday, hitting $51.735. The company had a trading volume of 1,190,785 shares. Bank Of New York Mellon Corporation has a 1-year low of $42.73 and a 1-year high of $55.29. The firm has a market capitalization of $53.45 billion, a price-to-earnings ratio of 15.343 and a beta of 1.15. The company has a 50 day moving average price of $52.98 and a 200 day moving average price of $50.89.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, equities analysts forecast that Bank Of New York Mellon Corporation will post $3.54 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.96 dividend on an annualized basis and a yield of 1.87%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is 28.07%.

Several equities research analysts have issued reports on BK shares. Royal Bank Of Canada reaffirmed a “hold” rating and set a $58.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Thursday, August 31st. Zacks Investment Research downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. UBS AG downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a report on Friday, September 8th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $58.00 price target (up previously from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, October 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $56.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $55.28.

Bank Of New York Mellon Corporation (The) Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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