Murphy Pohlad Asset Management LLC Has $5.51 Million Position in Bank of New York Mellon Corp (BK)

Murphy Pohlad Asset Management LLC trimmed its holdings in Bank of New York Mellon Corp (NYSE:BK) by 1.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 102,311 shares of the bank’s stock after selling 1,620 shares during the period. Bank of New York Mellon comprises about 3.6% of Murphy Pohlad Asset Management LLC’s portfolio, making the stock its 4th largest holding. Murphy Pohlad Asset Management LLC’s holdings in Bank of New York Mellon were worth $5,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invictus RG bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $102,000. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $124,000. Horan Capital Advisors LLC. bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at about $139,000. Advisory Services Network LLC grew its stake in shares of Bank of New York Mellon by 15.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after purchasing an additional 363 shares during the period. Finally, Sawyer & Company Inc bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at about $164,000. Institutional investors own 83.75% of the company’s stock.

A number of research firms have recently weighed in on BK. Vining Sparks reaffirmed a “hold” rating and set a $60.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 24th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday. Barclays reaffirmed a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. Citigroup raised Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, January 10th. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Friday, January 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $56.76.

In other news, CFO Thomas P. Gibbons sold 38,152 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the sale, the chief financial officer now directly owns 310,002 shares of the company’s stock, valued at approximately $16,786,608.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 650,000 shares of the company’s 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. Over the last three months, insiders sold 831,944 shares of company stock worth $43,807,887. 3.60% of the stock is owned by insiders.

Bank of New York Mellon Corp (NYSE:BK) opened at $56.33 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corp has a twelve month low of $44.91 and a twelve month high of $58.99. The company has a market capitalization of $57,087.19, a P/E ratio of 15.60, a P/E/G ratio of 1.79 and a beta of 1.21.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.91. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same period in the previous year, the firm earned $0.77 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. analysts anticipate that Bank of New York Mellon Corp will post 4.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 30th will be issued a $0.24 dividend. The ex-dividend date is Monday, January 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.70%. Bank of New York Mellon’s dividend payout ratio is presently 25.74%.

ILLEGAL ACTIVITY NOTICE: This article was originally posted by Stock Observer and is owned by of Stock Observer. If you are viewing this article on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this article can be viewed at https://www.thestockobserver.com/2018/02/05/murphy-pohlad-asset-management-llc-has-5-51-million-position-in-bank-of-new-york-mellon-corp-bk.html.

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.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

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

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply