Trading Report: The Bank Of New York Mellon Corp. (BK) Stake Maintained by Beck Mack & Oliver LLC

The Bank Of New York Mellon Corp. (BK) Stake Maintained by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC continued to hold its stake in shares of Bank Of New York Mellon Corp. (NYSE:BK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,206 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Bank Of New York Mellon Corp. were worth $1,912,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Trian Fund Management L.P. increased its position 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. Legal & General Group Plc increased its position in Bank Of New York Mellon Corp. by 3.3% in the first quarter. Legal & General Group Plc now owns 4,898,932 shares of the company’s stock worth $180,438,000 after buying an additional 156,606 shares in the last quarter. Prudential PLC increased its position 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. Kingstown Capital Management L.P. increased its position in Bank Of New York Mellon Corp. by 42.3% in the first quarter. Kingstown Capital Management L.P. now owns 1,850,000 shares of the company’s stock worth $68,136,000 after buying an additional 550,000 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in Bank Of New York Mellon Corp. by 28.0% in the first quarter. Panagora Asset Management Inc. now owns 1,435,197 shares of the company’s stock worth $52,858,000 after buying an additional 313,728 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Shares of Bank Of New York Mellon Corp. (NYSE:BK) traded down 0.53% during trading on Monday, hitting $39.26. The stock had a trading volume of 1,682,706 shares. The company’s 50 day moving average price is $40.50 and its 200 day moving average price is $39.82. The stock has a market cap of $41.92 billion, a price-to-earnings ratio of 14.08 and a beta of 1.38. 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 issued its earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The company earned $3.78 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Bank Of New York Mellon Corp. had a return on equity of 9.31% and a net margin of 20.86%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. Equities research analysts expect that Bank Of New York Mellon Corp. will post $3.04 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the company. Deutsche Bank AG reiterated a “buy” rating on shares of Bank Of New York Mellon Corp. in a research report on Sunday, July 10th. Barclays PLC restated a “buy” rating on shares of Bank Of New York Mellon Corp. in a research report on Saturday, July 9th. Argus restated a “hold” rating on shares of Bank Of New York Mellon Corp. in a research report on Friday, July 22nd. Jefferies Group restated a “hold” rating and issued a $38.00 price target on shares of Bank Of New York Mellon Corp. in a research report on Thursday, August 25th. Finally, Zacks Investment Research downgraded Bank Of New York Mellon Corp. from a “hold” rating to a “sell” rating in a research report on Monday, June 27th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $44.89.

In other Bank Of New York Mellon Corp. news, Director Trian Fund Management, L.P. purchased 152,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The shares were acquired at an average price of $38.87 per share, with a total value of $5,908,240.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by insiders.

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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