Bank of New York Mellon Corp (BK) Shares Sold by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC reduced its position in Bank of New York Mellon Corp (NYSE:BK) by 42.3% in the 1st quarter, HoldingsChannel reports. The firm owned 24,638 shares of the bank’s stock after selling 18,088 shares during the period. Cetera Advisor Networks LLC’s holdings in Bank of New York Mellon were worth $1,244,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Capital Group LLC grew its holdings in Bank of New York Mellon by 3.6% during the 4th quarter. Private Capital Group LLC now owns 5,628 shares of the bank’s stock valued at $265,000 after buying an additional 197 shares during the last quarter. CWM LLC grew its holdings in Bank of New York Mellon by 13.3% during the 4th quarter. CWM LLC now owns 1,728 shares of the bank’s stock valued at $81,000 after buying an additional 203 shares during the last quarter. Marathon Capital Management grew its holdings in Bank of New York Mellon by 1.9% during the 4th quarter. Marathon Capital Management now owns 11,040 shares of the bank’s stock valued at $519,000 after buying an additional 210 shares during the last quarter. Highstreet Asset Management Inc. grew its holdings in Bank of New York Mellon by 1.9% during the 4th quarter. Highstreet Asset Management Inc. now owns 11,558 shares of the bank’s stock valued at $544,000 after buying an additional 216 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Bank of New York Mellon by 6.2% during the 4th quarter. Quadrant Capital Group LLC now owns 3,792 shares of the bank’s stock valued at $168,000 after buying an additional 223 shares during the last quarter. 87.88% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Edward P. Garden sold 1,336 shares of Bank of New York Mellon stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.00, for a total value of $69,472.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Trian Fund Management, L.P. sold 621,807 shares of Bank of New York Mellon stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $50.11, for a total value of $31,158,748.77. The disclosure for this sale can be found here. Insiders have sold 825,900 shares of company stock worth $41,761,281 in the last 90 days. Insiders own 1.71% of the company’s stock.

A number of equities research analysts have commented on the company. ValuEngine cut Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada lowered their target price on Bank of New York Mellon to $52.00 and set a “positive” rating on the stock in a report on Thursday, April 18th. Zacks Investment Research upgraded Bank of New York Mellon from a “sell” rating to a “hold” rating in a report on Monday, January 21st. Deutsche Bank increased their target price on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 15th. Finally, Buckingham Research decreased their price objective on Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Bank of New York Mellon currently has an average rating of “Hold” and an average target price of $53.75.

BK stock opened at $46.54 on Friday. Bank of New York Mellon Corp has a 52-week low of $43.67 and a 52-week high of $58.22. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $44.53 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Wednesday, April 17th. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.02). Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business earned $1.10 EPS. Bank of New York Mellon’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Bank of New York Mellon Corp will post 4.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Monday, April 29th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Friday, April 26th. Bank of New York Mellon’s dividend payout ratio (DPR) is 26.60%.

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Bank of New York Mellon Profile

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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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)

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