CS Mckee LP Sells 15,200 Shares of Bank Of New York Mellon Corporation (The) (BK)

CS Mckee LP lessened its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 479,368 shares of the bank’s stock after selling 15,200 shares during the period. Bank Of New York Mellon makes up approximately 2.0% of CS Mckee LP’s holdings, making the stock its 12th largest holding. CS Mckee LP’s holdings in Bank Of New York Mellon were worth $25,416,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in BK. California Public Employees Retirement System grew its position in Bank Of New York Mellon by 2.0% in the 3rd quarter. California Public Employees Retirement System now owns 2,856,431 shares of the bank’s stock valued at $151,448,000 after acquiring an additional 56,203 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in Bank Of New York Mellon in the 3rd quarter valued at $570,000. Cubist Systematic Strategies LLC grew its position in shares of Bank Of New York Mellon by 198.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 15,834 shares of the bank’s stock worth $840,000 after buying an additional 10,534 shares in the last quarter. Laurel Wealth Advisors Inc. bought a new position in shares of Bank Of New York Mellon during the 3rd quarter worth $218,000. Finally, Madison Investment Holdings Inc. grew its position in shares of Bank Of New York Mellon by 10.4% during the 3rd quarter. Madison Investment Holdings Inc. now owns 381,869 shares of the bank’s stock worth $20,247,000 after buying an additional 35,987 shares in the last quarter. Institutional investors own 83.01% of the company’s stock.

In other Bank Of New York Mellon news, CFO Thomas P. Gibbons sold 38,152 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $54.15, for a total value of $2,065,930.80. Following the completion of the sale, the chief financial officer now directly owns 310,002 shares in the company, valued at $16,786,608.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total value of $303,969,164.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,708,334 shares of company stock valued at $404,956,863. 3.60% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on BK shares. 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 research report on Thursday, August 31st. UBS downgraded Bank Of New York Mellon from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research report on Friday, September 8th. Jefferies Group reissued a “hold” rating and set a $56.00 price target on shares of Bank Of New York Mellon in a research report on Friday, September 15th. Zacks Investment Research downgraded Bank Of New York Mellon from a “hold” rating to a “sell” rating in a research report on Thursday, September 21st. Finally, Citigroup reissued a “neutral” rating and set a $56.00 price target (up previously from $53.00) on shares of Bank Of New York Mellon in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Bank Of New York Mellon presently has a consensus rating of “Hold” and a consensus target price of $55.28.

Shares of Bank Of New York Mellon Corporation (BK) opened at $54.54 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. Bank Of New York Mellon Corporation has a 12 month low of $43.85 and a 12 month high of $55.40. The company has a market capitalization of $55,983.28, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.22.

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

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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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