Texas Permanent School Fund Decreases Position in Bank Of New York Mellon Corporation (The) (BK)

Texas Permanent School Fund reduced its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 4.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 303,127 shares of the bank’s stock after selling 13,612 shares during the period. Texas Permanent School Fund’s holdings in Bank Of New York Mellon Corporation (The) were worth $14,317,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BK. Dodge & Cox acquired a new stake in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter valued at approximately $2,352,702,000. Commerzbank Aktiengesellschaft FI increased its stake in Bank Of New York Mellon Corporation (The) by 101.6% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 28,596 shares of the bank’s stock valued at $1,355,000 after buying an additional 14,409 shares during the last quarter. Aviva PLC increased its stake in Bank Of New York Mellon Corporation (The) by 6.2% in the fourth quarter. Aviva PLC now owns 702,035 shares of the bank’s stock valued at $33,269,000 after buying an additional 41,208 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Bank Of New York Mellon Corporation (The) by 31.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 70,046 shares of the bank’s stock valued at $3,309,000 after buying an additional 16,740 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Bank Of New York Mellon Corporation (The) by 1.1% in the fourth quarter. AQR Capital Management LLC now owns 1,703,568 shares of the bank’s stock valued at $80,715,000 after buying an additional 18,185 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

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

Bank Of New York Mellon Corporation (BK) opened at 49.89 on Friday. Bank Of New York Mellon Corporation has a 12-month low of $35.72 and a 12-month high of $49.94. The company has a 50-day moving average price of $47.61 and a 200 day moving average price of $47.20. The company has a market cap of $51.88 billion, a PE ratio of 15.35 and a beta of 1.17.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, April 20th. The bank reported $0.80 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.80. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 9.97% and a net margin of 23.12%. Bank Of New York Mellon Corporation (The)’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. On average, analysts forecast that Bank Of New York Mellon Corporation will post $3.51 EPS for the current fiscal year.

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Several equities analysts have weighed in on BK shares. Credit Suisse Group reaffirmed a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, April 21st. Deutsche Bank AG lowered their price target on Bank Of New York Mellon Corporation (The) from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 6th. Evercore ISI cut Bank Of New York Mellon Corporation (The) from a “hold” rating to an “underperform” rating and set a $48.00 price target for the company. in a research note on Friday, March 3rd. Keefe, Bruyette & Woods set a $49.00 target price on Bank Of New York Mellon Corporation (The) and gave the stock a “hold” rating in a research report on Tuesday, April 4th. Finally, Bank of America Corporation reaffirmed an “underperform” rating and set a $49.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, May 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Bank Of New York Mellon Corporation (The) currently has a consensus rating of “Hold” and a consensus target price of $50.93.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 102,174 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $47.71, for a total transaction of $4,874,721.54. Following the completion of the transaction, the insider now directly owns 271,416 shares of the company’s stock, valued at $12,949,257.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 10,000 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $47.64, for a total value of $476,400.00. Following the transaction, the executive vice president now directly owns 100,487 shares of the company’s stock, valued at $4,787,200.68. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

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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