Ontario Teachers Pension Plan Board Has $643,000 Holdings in Bank of New York Mellon Corp (NYSE:BK)

Ontario Teachers Pension Plan Board reduced its holdings in Bank of New York Mellon Corp (NYSE:BK) by 54.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,093 shares of the bank’s stock after selling 23,089 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Bank of New York Mellon were worth $643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Quarterback LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $6,405,810,000. Norges Bank acquired a new position in Bank of New York Mellon during the 4th quarter worth $446,977,000. Goldman Sachs Group Inc. lifted its holdings in Bank of New York Mellon by 73.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,940,933 shares of the bank’s stock worth $349,337,000 after buying an additional 2,941,984 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Bank of New York Mellon by 12.6% during the 4th quarter. Macquarie Group Ltd. now owns 18,187,866 shares of the bank’s stock worth $915,395,000 after buying an additional 2,034,774 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in Bank of New York Mellon by 176.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,686,483 shares of the bank’s stock worth $135,211,000 after buying an additional 1,714,468 shares in the last quarter. 82.63% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have issued reports on BK shares. Deutsche Bank reduced their price objective on Bank of New York Mellon from $38.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, May 15th. Credit Suisse Group reduced their price objective on Bank of New York Mellon from $54.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Zacks Investment Research downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating and set a $37.00 price objective on the stock. in a report on Tuesday, April 7th. Barclays reiterated a “buy” rating and set a $54.00 target price on shares of Bank of New York Mellon in a research report on Thursday, April 9th. Finally, ValuEngine cut shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Thursday, April 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Bank of New York Mellon has an average rating of “Hold” and a consensus target price of $42.97.

BK opened at $34.50 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.77. Bank of New York Mellon Corp has a 12 month low of $26.40 and a 12 month high of $51.60. The company has a fifty day simple moving average of $35.23 and a 200 day simple moving average of $42.70. The stock has a market cap of $30.97 billion, a P/E ratio of 7.42, a P/E/G ratio of 1.26 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, April 16th. The bank reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.15. Bank of New York Mellon had a net margin of 21.60% and a return on equity of 10.59%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s quarterly revenue was down 14.8% on a year-over-year basis. On average, equities research analysts expect that Bank of New York Mellon Corp will post 3.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Tuesday, April 28th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is currently 30.85%.

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 10,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $35.12, for a total transaction of $351,200.00. Following the completion of the transaction, the executive vice president now owns 119,870 shares in the company, valued at approximately $4,209,834.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 197,379 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $35.31, for a total value of $6,969,452.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 245,292 shares of company stock valued at $8,743,527. 0.12% of the stock is owned by corporate insiders.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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

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