Trexquant Investment LP Takes Position in Bank Of New York Mellon Corporation (The) (BK)

Trexquant Investment LP bought a new stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,451 shares of the bank’s stock, valued at approximately $289,000.

Several other large investors have also recently bought and sold shares of BK. New England Research & Management Inc. acquired a new stake in Bank Of New York Mellon during the 2nd quarter worth $337,000. Lincoln Capital LLC boosted its stake in Bank Of New York Mellon by 0.5% in the 2nd quarter. Lincoln Capital LLC now owns 88,137 shares of the bank’s stock worth $4,497,000 after purchasing an additional 468 shares during the period. Portland Global Advisors LLC boosted its stake in Bank Of New York Mellon by 2.4% in the 2nd quarter. Portland Global Advisors LLC now owns 56,189 shares of the bank’s stock worth $2,867,000 after purchasing an additional 1,320 shares during the period. Bank of Montreal Can boosted its stake in Bank Of New York Mellon by 0.7% in the 2nd quarter. Bank of Montreal Can now owns 733,211 shares of the bank’s stock worth $37,407,000 after purchasing an additional 5,012 shares during the period. Finally, Pennsylvania Trust Co boosted its stake in Bank Of New York Mellon by 69.8% in the 2nd quarter. Pennsylvania Trust Co now owns 10,460 shares of the bank’s stock worth $534,000 after purchasing an additional 4,300 shares during the period. Institutional investors own 82.83% of the company’s stock.

In related news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total value of $303,969,164.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the completion of the transaction, the chief financial officer now owns 310,002 shares in the company, valued at approximately $16,786,608.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,708,334 shares of company stock worth $404,956,863. 3.60% of the stock is owned by insiders.

BK has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Bank Of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $58.00 target price on shares of Bank Of New York Mellon in a research note on Thursday, August 31st. UBS lowered shares of Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research note on Friday, September 8th. Goldman Sachs Group reissued a “buy” rating and set a $58.00 price target (up from $52.85) on shares of Bank Of New York Mellon in a research report on Friday, October 20th. Finally, Jefferies Group reissued a “hold” rating and set a $56.00 price target on shares of Bank Of New York Mellon in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Bank Of New York Mellon currently has an average rating of “Hold” and a consensus price target of $55.28.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at $54.02 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. The stock has a market cap of $55,737.52, a PE ratio of 15.69, a PEG ratio of 1.98 and a beta of 1.22. Bank Of New York Mellon Corporation has a fifty-two week low of $43.85 and a fifty-two week high of $55.40.

Bank Of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. Bank Of New York Mellon’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. analysts predict that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.78%. Bank Of New York Mellon’s payout ratio is 28.07%.

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Bank Of New York Mellon 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 (NYSE:BK)

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