Frontier Investment Mgmt Co. Invests $3.36 Million in Bank of New York Mellon Corp (BK) Stock

Frontier Investment Mgmt Co. purchased a new stake in shares of Bank of New York Mellon Corp (NYSE:BK) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 62,367 shares of the bank’s stock, valued at approximately $3,359,000.

A number of other large investors have also bought and sold shares of BK. Capital International Investors raised its holdings in Bank of New York Mellon by 120.8% during the third quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock valued at $1,221,846,000 after acquiring an additional 12,607,183 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Bank of New York Mellon by 71.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 5,369,313 shares of the bank’s stock valued at $289,191,000 after acquiring an additional 2,229,702 shares during the period. American Century Companies Inc. raised its holdings in Bank of New York Mellon by 39.2% during the third quarter. American Century Companies Inc. now owns 6,008,434 shares of the bank’s stock valued at $318,567,000 after acquiring an additional 1,691,889 shares during the period. Canada Pension Plan Investment Board raised its holdings in Bank of New York Mellon by 118.0% during the third quarter. Canada Pension Plan Investment Board now owns 1,722,972 shares of the bank’s stock valued at $91,352,000 after acquiring an additional 932,700 shares during the period. Finally, Longview Partners Guernsey LTD grew its position in shares of Bank of New York Mellon by 5.2% during the third quarter. Longview Partners Guernsey LTD now owns 17,381,984 shares of the bank’s stock valued at $921,593,000 after purchasing an additional 862,800 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

In other Bank of New York Mellon news, CFO Thomas P. Gibbons sold 38,152 shares of the business’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 completion of the transaction, the chief financial officer now owns 310,002 shares in the company, valued at $16,786,608.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward P. Garden sold 143,792 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $52.52, for a total value of $7,551,955.84. The disclosure for this sale can be found here. 3.60% of the stock is owned by insiders.

BK has been the subject of a number of research analyst reports. Citigroup upgraded Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Wednesday, January 10th. Vining Sparks restated a “buy” rating and set a $62.00 price objective on shares of Bank of New York Mellon in a research report on Monday, January 8th. Zacks Investment Research upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, December 20th. ValuEngine upgraded Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Barclays restated a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Bank of New York Mellon currently has a consensus rating of “Hold” and an average target price of $56.76.

Bank of New York Mellon Corp (BK) opened at $56.25 on Monday. The company has a market capitalization of $57,006.11, a PE ratio of 15.08, a P/E/G ratio of 1.79 and a beta of 1.21. Bank of New York Mellon Corp has a 12-month low of $45.12 and a 12-month high of $58.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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 business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. analysts expect that Bank of New York Mellon Corp will post 4.06 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Tuesday, January 30th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, January 29th. This represents a $0.96 annualized dividend and a dividend yield of 1.71%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 25.74%.

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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.

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

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