Bank of New York Mellon Corp (NYSE:BK) Holdings Reduced by PGGM Investments

PGGM Investments trimmed its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 941,000 shares of the bank’s stock after selling 34,091 shares during the quarter. PGGM Investments owned about 0.09% of Bank of New York Mellon worth $50,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of BK. Berkshire Hathaway Inc. boosted its holdings in shares of Bank of New York Mellon by 52.2% in the 2nd quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock worth $2,562,715,000 after purchasing an additional 17,217,529 shares in the last quarter. Capital International Investors boosted its holdings in shares of Bank of New York Mellon by 120.8% in the 3rd quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock worth $1,221,846,000 after purchasing an additional 12,607,183 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bank of New York Mellon by 1,303.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,624,187 shares of the bank’s stock worth $133,886,000 after purchasing an additional 2,437,230 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Bank of New York Mellon by 39.2% in the 3rd quarter. American Century Companies Inc. now owns 6,008,434 shares of the bank’s stock worth $318,567,000 after purchasing an additional 1,691,889 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Bank of New York Mellon by 118.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,722,972 shares of the bank’s stock worth $91,352,000 after purchasing an additional 932,700 shares in the last quarter. Institutional investors and hedge funds own 83.67% of the company’s stock.

In other news, Director Edward P. Garden sold 143,792 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $52.52, for a total value of $7,551,955.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward P. Garden sold 650,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $52.60, for a total value of $34,190,000.00. The disclosure for this sale can be found here. Insiders sold a total of 831,944 shares of company stock valued at $43,807,887 in the last three months. Corporate insiders own 3.60% of the company’s stock.

Bank of New York Mellon Corp (NYSE:BK) opened at $54.81 on Wednesday. The company has a market capitalization of $56,130.00, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.72 and a beta of 1.21. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corp has a 52-week low of $45.12 and a 52-week high of $58.99.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, meeting analysts’ consensus estimates of $0.91. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the company posted $0.77 EPS. Bank of New York Mellon’s quarterly revenue was down 1.6% compared to the same quarter last year. equities research analysts forecast that Bank of New York Mellon Corp will post 4.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Tuesday, January 30th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Monday, January 29th. Bank of New York Mellon’s dividend payout ratio is currently 25.81%.

A number of research firms have recently issued reports on BK. Morgan Stanley upped their price objective on Bank of New York Mellon from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Vining Sparks restated a “hold” rating and set a $60.00 target price on shares of Bank of New York Mellon in a report on Wednesday, January 24th. Barclays restated a “buy” rating on shares of Bank of New York Mellon in a report on Sunday, January 21st. JPMorgan Chase & Co. cut Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 target price for the company. in a report on Friday, January 19th. Finally, Sandler O’Neill restated a “hold” rating and set a $58.00 target price on shares of Bank of New York Mellon in a report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.76.

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Bank of New York Mellon 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.

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

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