NEXT Financial Group Inc Lowers Holdings in Bank Of New York Mellon Corporation (The) (BK)

NEXT Financial Group Inc trimmed its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 16.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,851 shares of the bank’s stock after selling 6,567 shares during the quarter. Bank Of New York Mellon accounts for 0.8% of NEXT Financial Group Inc’s holdings, making the stock its 29th largest holding. NEXT Financial Group Inc’s holdings in Bank Of New York Mellon were worth $1,823,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Baltimore Washington Financial Advisors Inc. lifted its holdings in shares of Bank Of New York Mellon by 0.6% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 188,521 shares of the bank’s stock worth $10,153,000 after buying an additional 1,115 shares during the period. Convergence Investment Partners LLC purchased a new stake in shares of Bank Of New York Mellon in the 4th quarter worth $3,685,000. Atria Investments LLC lifted its holdings in shares of Bank Of New York Mellon by 7.6% in the 4th quarter. Atria Investments LLC now owns 12,263 shares of the bank’s stock worth $660,000 after buying an additional 871 shares during the period. Starfire Investment Advisers Inc. purchased a new stake in shares of Bank Of New York Mellon in the 4th quarter worth $373,000. Finally, Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Bank Of New York Mellon during the 4th quarter worth $124,000. Institutional investors and hedge funds own 82.93% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded down $0.88 during trading hours on Tuesday, reaching $57.54. The company had a trading volume of 5,633,681 shares, compared to its average volume of 3,704,570. Bank Of New York Mellon Corporation has a 12 month low of $43.85 and a 12 month high of $58.99. The firm has a market cap of $59,450.00, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.84 and a beta of 1.22. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85.

Bank Of New York Mellon (NYSE:BK) last announced its earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company posted $0.90 EPS. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. equities analysts predict that Bank Of New York Mellon Corporation will post 3.55 earnings per share for the current fiscal year.

BK has been the subject of a number of analyst reports. Zacks Investment Research upgraded Bank Of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Wednesday, December 20th. ValuEngine upgraded Bank Of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Royal Bank of Canada restated a “hold” rating and set a $58.00 price objective on shares of Bank Of New York Mellon in a research note on Wednesday, November 15th. Barclays upped their price objective on Bank Of New York Mellon from $55.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley upped their price objective on Bank Of New York Mellon from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.59.

In related news, Vice Chairman Brian T. Shea sold 22,228 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $51.26, for a total transaction of $1,139,407.28. Following the transaction, the insider now directly owns 181,815 shares of the company’s stock, valued at approximately $9,319,836.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward P. Garden sold 1,031,157 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $53.13, for a total value of $54,785,371.41. The disclosure for this sale can be found here. Insiders have sold a total of 7,708,334 shares of company stock worth $404,956,863 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

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

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