Trian Fund Management L.P. reduced its stake in Bank of New York Mellon Corp (NYSE:BK) by 29.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,776,432 shares of the bank’s stock after selling 6,599,057 shares during the period. Bank of New York Mellon accounts for 7.2% of Trian Fund Management L.P.’s holdings, making the stock its 6th biggest holding. Trian Fund Management L.P. owned 1.56% of Bank of New York Mellon worth $849,719,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of BK. Wealthfront Inc. boosted its holdings in Bank of New York Mellon by 6.6% during the fourth quarter. Wealthfront Inc. now owns 47,762 shares of the bank’s stock worth $2,572,000 after purchasing an additional 2,974 shares during the last quarter. Rothschild Asset Management Inc. purchased a new position in Bank of New York Mellon during the third quarter worth about $612,000. Steward Partners Investment Advisory LLC purchased a new position in Bank of New York Mellon during the third quarter worth about $748,000. Taylor Hoffman Wealth Management purchased a new position in Bank of New York Mellon during the fourth quarter worth about $144,000. Finally, Stratos Wealth Partners LTD. purchased a new position in Bank of New York Mellon during the third quarter worth about $1,119,000. 84.20% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Bridget E. Engle sold 38,928 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $56.62, for a total value of $2,204,103.36. Following the completion of the sale, the insider now owns 68,046 shares of the company’s stock, valued at approximately $3,852,764.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Trian Fund Management, L.P. acquired 360,000 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was acquired at an average cost of $56.67 per share, with a total value of $20,401,200.00. The disclosure for this purchase can be found here. 3.60% of the stock is owned by insiders.
Shares of Bank of New York Mellon Corp (BK) opened at $55.93 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $56,990.23, a P/E ratio of 15.00, a P/E/G ratio of 1.81 and a beta of 1.16. Bank of New York Mellon Corp has a twelve month low of $45.12 and a twelve month high of $58.99.
Bank of New York Mellon (NYSE:BK) last posted its earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.91. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. Bank of New York Mellon’s revenue was down 1.6% on a year-over-year basis. analysts forecast that Bank of New York Mellon Corp will post 4.02 earnings per share for the current fiscal year.
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Bank of New York Mellon 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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