Bank Of New York Mellon Corporation (The) (BK) Stake Increased by Capital International Investors

Capital International Investors lifted its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 120.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,045,005 shares of the bank’s stock after buying an additional 12,607,183 shares during the quarter. Bank Of New York Mellon makes up about 1.5% of Capital International Investors’ investment portfolio, making the stock its 16th largest holding. Capital International Investors owned approximately 2.25% of Bank Of New York Mellon worth $1,221,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Capital Guardian Trust Co. boosted its holdings in Bank Of New York Mellon by 140.1% in the third quarter. Capital Guardian Trust Co. now owns 1,020,025 shares of the bank’s stock worth $54,082,000 after purchasing an additional 595,275 shares during the period. Capital International Ltd. CA boosted its holdings in Bank Of New York Mellon by 77.5% in the third quarter. Capital International Ltd. CA now owns 220,334 shares of the bank’s stock worth $11,682,000 after purchasing an additional 96,234 shares during the period. Vident Investment Advisory LLC acquired a new position in Bank Of New York Mellon in the third quarter worth $2,556,000. Capital International Inc. CA boosted its holdings in Bank Of New York Mellon by 128.5% in the third quarter. Capital International Inc. CA now owns 50,491 shares of the bank’s stock worth $2,677,000 after purchasing an additional 28,391 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its holdings in Bank Of New York Mellon by 0.5% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 919,504 shares of the bank’s stock worth $48,752,000 after purchasing an additional 4,604 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

Shares of Bank Of New York Mellon Corporation (BK) opened at $54.67 on Friday. Bank Of New York Mellon Corporation has a one year low of $43.85 and a one year high of $55.40. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85. The firm has a market cap of $55,983.28, a PE ratio of 15.76, a P/E/G ratio of 1.99 and a beta of 1.22.

Bank Of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. research analysts predict that Bank Of New York Mellon Corporation will post 3.54 EPS for the current year.

In other Bank Of New York Mellon news, Vice Chairman Brian T. Shea sold 22,228 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $51.26, for a total value of $1,139,407.28. Following the sale, the insider now directly owns 181,815 shares in the company, valued at $9,319,836.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total transaction of $303,969,164.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,708,334 shares of company stock worth $404,956,863. Company insiders own 3.60% of the company’s stock.

Several equities analysts have recently issued reports on BK shares. UBS downgraded shares of Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a report on Friday, September 8th. Royal Bank Of Canada reissued a “hold” rating and set a $58.00 price target on shares of Bank Of New York Mellon in a report on Wednesday, November 15th. Morgan Stanley boosted their price target on shares of Bank Of New York Mellon from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Goldman Sachs Group reissued a “buy” rating and set a $58.00 price target (up previously from $52.85) on shares of Bank Of New York Mellon in a report on Friday, October 20th. Finally, Jefferies Group reissued a “hold” rating and set a $56.00 price target on shares of Bank Of New York Mellon in a report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $55.28.

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About Bank Of New York Mellon

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.

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

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