Silvercrest Asset Management Group LLC Acquires 2,896 Shares of Bank of New York Mellon Corp (BK)

Silvercrest Asset Management Group LLC lifted its position in Bank of New York Mellon Corp (NYSE:BK) by 2.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 124,457 shares of the bank’s stock after buying an additional 2,896 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Bank of New York Mellon were worth $6,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. MANA Advisors LLC increased its position in shares of Bank of New York Mellon by 49.3% in the 1st quarter. MANA Advisors LLC now owns 7,282 shares of the bank’s stock valued at $375,000 after buying an additional 2,406 shares in the last quarter. CAMG Solamere Management LLC boosted its stake in Bank of New York Mellon by 1,049.5% in the 1st quarter. CAMG Solamere Management LLC now owns 121,484 shares of the bank’s stock worth $418,000 after purchasing an additional 110,916 shares during the period. Green Square Capital LLC boosted its stake in Bank of New York Mellon by 17.8% in the 1st quarter. Green Square Capital LLC now owns 7,316 shares of the bank’s stock worth $377,000 after purchasing an additional 1,104 shares during the period. Perigon Wealth Management LLC boosted its stake in Bank of New York Mellon by 10,373.3% in the 1st quarter. Perigon Wealth Management LLC now owns 7,855 shares of the bank’s stock worth $405,000 after purchasing an additional 7,780 shares during the period. Finally, First Foundation Advisors boosted its stake in Bank of New York Mellon by 0.7% in the 1st quarter. First Foundation Advisors now owns 722,884 shares of the bank’s stock worth $37,250,000 after purchasing an additional 5,121 shares during the period. Institutional investors and hedge funds own 82.18% of the company’s stock.

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 15,000 shares of the stock in a transaction dated Monday, April 23rd. The shares were sold at an average price of $55.89, for a total value of $838,350.00. Following the transaction, the executive vice president now directly owns 100,609 shares of the company’s stock, valued at approximately $5,623,037.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 4,701 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $57.44, for a total transaction of $270,025.44. Following the transaction, the insider now directly owns 16,487 shares in the company, valued at $947,013.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 67,701 shares of company stock worth $3,796,375. Insiders own 1.76% of the company’s stock.

BK has been the subject of a number of research analyst reports. Deutsche Bank upped their target price on shares of Bank of New York Mellon from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, March 6th. Bank of America raised shares of Bank of New York Mellon from an “underperform” rating to a “neutral” rating and set a $52.00 target price for the company in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods set a $57.00 price objective on shares of Bank of New York Mellon and gave the stock a “hold” rating in a research note on Thursday, March 8th. Goldman Sachs Group downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Monday, March 12th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $65.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, March 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $58.32.

Shares of NYSE:BK opened at $57.32 on Thursday. Bank of New York Mellon Corp has a 52-week low of $49.00 and a 52-week high of $58.99. The stock has a market capitalization of $58.32 billion, a P/E ratio of 15.92, a PEG ratio of 1.74 and a beta of 1.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.71 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, April 19th. The bank reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.14. Bank of New York Mellon had a net margin of 25.20% and a return on equity of 11.27%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the business posted $0.83 EPS. Bank of New York Mellon’s revenue was up 8.7% on a year-over-year basis. sell-side analysts expect that Bank of New York Mellon Corp will post 4.27 EPS for the current year.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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