The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by National Asset Management Inc.

National Asset Management Inc. reduced its stake in The Bank of New York Mellon Co. (NYSE:BK) by 7.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,653 shares of the bank’s stock after selling 878 shares during the period. National Asset Management Inc.’s holdings in The Bank of New York Mellon were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its stake in shares of The Bank of New York Mellon by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 18,493,137 shares of the bank’s stock valued at $714,760,000 after acquiring an additional 50,870 shares in the last quarter. Davis Selected Advisers raised its stake in shares of The Bank of New York Mellon by 4.2% in the second quarter. Davis Selected Advisers now owns 16,070,508 shares of the bank’s stock valued at $621,125,000 after acquiring an additional 653,317 shares in the last quarter. Nuveen Asset Management LLC raised its stake in The Bank of New York Mellon by 24.5% in the second quarter. Nuveen Asset Management LLC now owns 9,686,479 shares of the bank’s stock valued at $374,382,000 after buying an additional 1,904,569 shares in the last quarter. LSV Asset Management raised its stake in The Bank of New York Mellon by 24.1% in the third quarter. LSV Asset Management now owns 4,883,284 shares of the bank’s stock valued at $167,691,000 after buying an additional 948,323 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in The Bank of New York Mellon by 432.5% in the second quarter. AQR Capital Management LLC now owns 4,765,559 shares of the bank’s stock valued at $178,470,000 after buying an additional 3,870,637 shares in the last quarter. Institutional investors and hedge funds own 76.73% of the company’s stock.

NYSE BK opened at $37.88 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.65. The Bank of New York Mellon Co. has a 52-week low of $26.40 and a 52-week high of $51.60. The business’s 50-day moving average price is $36.75 and its 200 day moving average price is $36.69. The firm has a market cap of $33.57 billion, a P/E ratio of 8.31, a P/E/G ratio of 1.26 and a beta of 1.03.

The Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, October 16th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.94 by $0.04. The Bank of New York Mellon had a return on equity of 9.89% and a net margin of 23.09%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.83 billion. During the same quarter last year, the company posted $1.07 earnings per share. The business’s revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 3.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Wednesday, October 28th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Tuesday, October 27th. The Bank of New York Mellon’s dividend payout ratio is currently 30.85%.

A number of analysts have weighed in on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft upgraded The Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price target for the company from $39.00 to $46.00 in a research note on Wednesday, November 11th. Smith Barney Citigroup cut The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 10th. Keefe, Bruyette & Woods cut The Bank of New York Mellon from an “outperform” rating to a “market perform” rating and cut their price target for the company from $47.00 to $43.00 in a research note on Wednesday. Finally, Bank of America cut The Bank of New York Mellon from a “neutral” rating to an “underperform” rating and cut their price target for the company from $42.00 to $39.00 in a research note on Friday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.56.

About The Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. The Investment Service segment offers custody, accounting, exchange-traded funds services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, brokerage and data analytics, clearing, trading, investment, wealth and retirement solutions, technology and enterprise data management, corporate trust, depositary receipts, payments, receivables processing and payables management, trade finance and processing, and collateral management services.

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

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