Louisiana State Employees Retirement System Trims Stake in Bank Of New York Mellon Corporation (The) (BK)

Louisiana State Employees Retirement System lessened its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,000 shares of the bank’s stock after selling 2,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Bank Of New York Mellon were worth $3,339,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of BK. Berkshire Hathaway Inc. increased its stake in shares of Bank Of New York Mellon by 52.2% during the second quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock worth $2,562,715,000 after buying an additional 17,217,529 shares during the period. Capital International Investors increased its stake in shares of Bank Of New York Mellon by 120.8% during the third quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock worth $1,221,846,000 after buying an additional 12,607,183 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Bank Of New York Mellon by 1,303.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,624,187 shares of the bank’s stock worth $133,886,000 after buying an additional 2,437,230 shares during the period. American Century Companies Inc. increased its stake in shares of Bank Of New York Mellon by 39.2% during the third quarter. American Century Companies Inc. now owns 6,008,434 shares of the bank’s stock worth $318,567,000 after buying an additional 1,691,889 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Bank Of New York Mellon by 1.6% during the second quarter. Vanguard Group Inc. now owns 67,420,467 shares of the bank’s stock worth $3,439,792,000 after buying an additional 1,071,088 shares during the period. 82.93% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bank Of New York Mellon Corporation (BK) traded up $0.59 on Tuesday, hitting $58.42. 3,484,200 shares of the stock were exchanged, compared to its average volume of 3,490,233. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $60,570.00, a price-to-earnings ratio of 17.18, a PEG ratio of 1.84 and a beta of 1.22. Bank Of New York Mellon Corporation has a twelve month low of $43.85 and a twelve month high of $58.68.

Bank Of New York Mellon (NYSE:BK) last announced its earnings results 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 analyst estimates of $3.99 billion. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. analysts expect that Bank Of New York Mellon Corporation will post 3.55 earnings per share for the current fiscal year.

In related news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total value of $1,139,407.28. Following the sale, the insider now directly owns 181,815 shares of the company’s stock, valued at $9,319,836.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,708,334 shares of company stock worth $404,956,863. Insiders own 3.60% of the company’s stock.

BK has been the topic of several recent analyst reports. ValuEngine upgraded shares of Bank Of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Citigroup reiterated a “neutral” rating and issued a $56.00 price target (up from $53.00) on shares of Bank Of New York Mellon in a research note on Monday, October 9th. Jefferies Group reiterated a “hold” rating on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Credit Suisse Group reiterated a “hold” rating and issued a $55.00 price target on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of Bank Of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Bank Of New York Mellon presently has an average rating of “Hold” and a consensus target price of $56.59.

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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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