8,288,772 Shares in Bank of New York Mellon Corp (BK) Purchased by Norges Bank

Norges Bank purchased a new stake in Bank of New York Mellon Corp (NYSE:BK) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 8,288,772 shares of the bank’s stock, valued at approximately $390,153,000. Norges Bank owned about 0.84% of Bank of New York Mellon as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Private Capital Group LLC increased its holdings in shares of Bank of New York Mellon by 3.6% in the 4th quarter. Private Capital Group LLC now owns 5,628 shares of the bank’s stock worth $265,000 after buying an additional 197 shares during the last quarter. CWM LLC increased its holdings in shares of Bank of New York Mellon by 13.3% in the 4th quarter. CWM LLC now owns 1,728 shares of the bank’s stock worth $81,000 after buying an additional 203 shares during the last quarter. Marathon Capital Management increased its holdings in shares of Bank of New York Mellon by 1.9% in the 4th quarter. Marathon Capital Management now owns 11,040 shares of the bank’s stock worth $519,000 after buying an additional 210 shares during the last quarter. Highstreet Asset Management Inc. increased its holdings in shares of Bank of New York Mellon by 1.9% in the 4th quarter. Highstreet Asset Management Inc. now owns 11,558 shares of the bank’s stock worth $544,000 after buying an additional 216 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Bank of New York Mellon by 6.2% in the 4th quarter. Quadrant Capital Group LLC now owns 3,792 shares of the bank’s stock worth $168,000 after buying an additional 223 shares during the last quarter. Institutional investors own 87.61% of the company’s stock.

Shares of BK traded up $0.06 during mid-day trading on Friday, hitting $48.41. The company’s stock had a trading volume of 8,317,332 shares, compared to its average volume of 5,201,281. Bank of New York Mellon Corp has a 52-week low of $43.67 and a 52-week high of $58.22. The stock has a market capitalization of $46.22 billion, a PE ratio of 11.50, a PEG ratio of 1.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.68.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.94 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.02). Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the company posted $1.10 EPS. Bank of New York Mellon’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts forecast that Bank of New York Mellon Corp will post 4.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Monday, April 29th will be given a $0.28 dividend. The ex-dividend date is Friday, April 26th. This represents a $1.12 annualized dividend and a dividend yield of 2.31%. Bank of New York Mellon’s payout ratio is presently 26.60%.

Several brokerages recently commented on BK. Zacks Investment Research reiterated a “hold” rating on shares of Bank of New York Mellon in a report on Monday, December 31st. Royal Bank of Canada lowered their price objective on shares of Bank of New York Mellon to $52.00 and set a “positive” rating for the company in a research report on Thursday. Deutsche Bank boosted their price objective on shares of Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Citigroup cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $52.00 in a research report on Wednesday, January 9th. Finally, Vining Sparks reissued a “buy” rating and issued a $55.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.75.

In related news, Director Edward P. Garden sold 1,336 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.00, for a total transaction of $69,472.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Bridget E. Engle sold 22,670 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $52.99, for a total transaction of $1,201,283.30. Following the transaction, the vice president now owns 92,150 shares of the company’s stock, valued at approximately $4,883,028.50. The disclosure for this sale can be found here. Insiders sold a total of 3,713,437 shares of company stock valued at $198,594,100 in the last ninety days. Corporate insiders own 1.71% of the company’s stock.

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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.

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

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