Trading Report: The North Star Asset Management Inc. Continues to Hold Stake in Bank Of New York Mellon Corp. (BK)

The North Star Asset Management Inc. Continues to Hold Stake in Bank Of New York Mellon Corp. (BK)

North Star Asset Management Inc. maintained its position in Bank Of New York Mellon Corp. (NYSE:BK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,524 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in Bank Of New York Mellon Corp. were worth $388,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BK. Kovitz Investment Group Partners LLC acquired a new stake in Bank Of New York Mellon Corp. during the first quarter worth $43,333,000. Prudential PLC boosted its stake in Bank Of New York Mellon Corp. by 112.7% in the first quarter. Prudential PLC now owns 2,128,492 shares of the company’s stock worth $78,392,000 after buying an additional 1,127,606 shares in the last quarter. American Century Companies Inc. acquired a new stake in Bank Of New York Mellon Corp. during the second quarter worth $39,102,000. Natixis acquired a new stake in Bank Of New York Mellon Corp. during the first quarter worth $35,850,000. Finally, Trian Fund Management L.P. boosted its stake in Bank Of New York Mellon Corp. by 2.9% in the first quarter. Trian Fund Management L.P. now owns 31,826,733 shares of the company’s stock worth $1,172,179,000 after buying an additional 891,217 shares in the last quarter. Institutional investors and hedge funds own 81.93% of the company’s stock.

Bank Of New York Mellon Corp. (NYSE:BK) traded up 0.70% on Wednesday, reaching $40.23. The company’s stock had a trading volume of 1,873,473 shares. The stock’s 50 day moving average price is $40.57 and its 200 day moving average price is $39.81. The company has a market cap of $42.95 billion, a P/E ratio of 14.43 and a beta of 1.37. Bank Of New York Mellon Corp. has a 12 month low of $32.20 and a 12 month high of $44.73.

Bank Of New York Mellon Corp. (NYSE:BK) last released its earnings results on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. Bank Of New York Mellon Corp. had a return on equity of 9.31% and a net margin of 20.86%. The firm earned $3.78 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts forecast that Bank Of New York Mellon Corp. will post $3.04 earnings per share for the current year.

A number of equities research analysts recently weighed in on the company. Barclays PLC reaffirmed a “buy” rating on shares of Bank Of New York Mellon Corp. in a report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Bank Of New York Mellon Corp. in a report on Sunday, July 10th. Argus reissued a “hold” rating on shares of Bank Of New York Mellon Corp. in a research note on Friday, July 22nd. Credit Suisse Group AG reissued a “hold” rating on shares of Bank Of New York Mellon Corp. in a research note on Tuesday, June 28th. Finally, Zacks Investment Research cut Bank Of New York Mellon Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Bank Of New York Mellon Corp. has an average rating of “Buy” and an average price target of $45.05.

In related news, Director Trian Fund Management, L.P. purchased 152,000 shares of the stock in a transaction dated Friday, July 22nd. The stock was bought at an average cost of $38.87 per share, for a total transaction of $5,908,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.40% of the company’s stock.

Bank Of New York Mellon Corp. Company Profile

The Bank of New York Mellon Corporation (BNY Mellon) 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 credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

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