Alberta Investment Management Corp Reduces Stock Position in Bank of New York Mellon Corp (NYSE:BK)

Alberta Investment Management Corp cut its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 34.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,500 shares of the bank’s stock after selling 90,100 shares during the quarter. Alberta Investment Management Corp’s holdings in Bank of New York Mellon were worth $5,810,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Wealth Quarterback LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $6,405,810,000. Norges Bank bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $446,977,000. Goldman Sachs Group Inc. increased its holdings in shares of Bank of New York Mellon by 73.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,940,933 shares of the bank’s stock valued at $349,337,000 after acquiring an additional 2,941,984 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of Bank of New York Mellon by 12.6% in the 4th quarter. Macquarie Group Ltd. now owns 18,187,866 shares of the bank’s stock valued at $915,395,000 after acquiring an additional 2,034,774 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Bank of New York Mellon by 176.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,686,483 shares of the bank’s stock valued at $135,211,000 after acquiring an additional 1,714,468 shares during the last quarter. Institutional investors own 82.63% of the company’s stock.

A number of research firms recently issued reports on BK. Bank of America reduced their price objective on Bank of New York Mellon from $36.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, March 23rd. Morgan Stanley boosted their price objective on Bank of New York Mellon from $38.00 to $40.00 and gave the company an “underweight” rating in a research report on Friday, April 17th. Goldman Sachs Group upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $49.00 to $39.00 in a research report on Tuesday, March 24th. Credit Suisse Group reduced their price objective on Bank of New York Mellon from $54.00 to $44.00 and set an “outperform” rating for the company in a research report on Monday, March 30th. Finally, Zacks Investment Research lowered Bank of New York Mellon from a “hold” rating to a “sell” rating and set a $37.00 price objective for the company. in a research report on Tuesday, April 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.97.

Shares of BK stock opened at $34.98 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon Corp has a 1 year low of $26.40 and a 1 year high of $51.60. The stock has a fifty day moving average of $35.20 and a two-hundred day moving average of $42.76. The firm has a market capitalization of $30.85 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.15. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.87 billion. Bank of New York Mellon had a return on equity of 10.59% and a net margin of 21.60%. The company’s revenue was down 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. Equities research analysts predict that Bank of New York Mellon Corp will post 3.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Tuesday, April 28th were issued a $0.31 dividend. The ex-dividend date was Monday, April 27th. This represents a $1.24 annualized dividend and a dividend yield of 3.54%. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.85%.

In other news, VP Bridget E. Engle sold 37,913 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $37.53, for a total value of $1,422,874.89. Following the completion of the sale, the vice president now owns 100,160 shares in the company, valued at $3,759,004.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP J Kevin Mccarthy sold 10,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $35.12, for a total value of $351,200.00. Following the sale, the executive vice president now directly owns 119,870 shares in the company, valued at $4,209,834.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 245,292 shares of company stock valued at $8,743,527. Insiders own 0.12% of the company’s stock.

About Bank of New York Mellon

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.

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

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