The Bank of New York Mellon (NYSE:BK) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its position in The Bank of New York Mellon (NYSE:BK) by 247.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,974,550 shares of the bank’s stock after purchasing an additional 1,406,475 shares during the quarter. Millennium Management LLC owned about 0.19% of The Bank of New York Mellon worth $106,349,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in The Bank of New York Mellon by 1.4% in the 4th quarter. BlackRock Inc. now owns 58,687,093 shares of the bank’s stock valued at $3,160,885,000 after purchasing an additional 808,949 shares during the last quarter. Capital International Investors boosted its holdings in The Bank of New York Mellon by 120.8% in the 3rd quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock valued at $1,221,846,000 after purchasing an additional 12,607,183 shares during the last quarter. Longview Partners Guernsey LTD boosted its holdings in The Bank of New York Mellon by 1.7% in the 4th quarter. Longview Partners Guernsey LTD now owns 17,675,284 shares of the bank’s stock valued at $951,991,000 after purchasing an additional 293,300 shares during the last quarter. Geode Capital Management LLC boosted its holdings in The Bank of New York Mellon by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 10,680,589 shares of the bank’s stock valued at $574,033,000 after purchasing an additional 161,352 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in The Bank of New York Mellon by 1.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,046,925 shares of the bank’s stock valued at $479,668,000 after purchasing an additional 128,778 shares during the last quarter. Institutional investors own 84.13% of the company’s stock.

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In other The Bank of New York Mellon news, insider Bridget E. Engle sold 38,928 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $56.62, for a total value of $2,204,103.36. Following the sale, the insider now directly owns 68,046 shares of the company’s stock, valued at approximately $3,852,764.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Trian Fund Management, L.P. acquired 360,000 shares of the company’s stock in a transaction on Friday, March 9th. The stock was purchased at an average cost of $56.67 per share, for a total transaction of $20,401,200.00. The disclosure for this purchase can be found here. 1.76% of the stock is owned by corporate insiders.

BK traded down $1.38 during trading hours on Friday, hitting $50.35. 5,118,133 shares of the company’s stock were exchanged, compared to its average volume of 5,223,452. The Bank of New York Mellon has a 12-month low of $45.88 and a 12-month high of $58.99. The company has a market cap of $52,234.31, a P/E ratio of 13.99, a PEG ratio of 1.66 and a beta of 1.22. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.82.

The Bank of New York Mellon (NYSE:BK) last announced its earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, hitting the consensus estimate of $0.91. The Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the prior year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. research analysts forecast that The Bank of New York Mellon will post 4.03 earnings per share for the current year.

Several equities analysts have weighed in on BK shares. Barclays reiterated a “buy” rating on shares of The Bank of New York Mellon in a report on Sunday, January 21st. JPMorgan Chase lowered shares of The Bank of New York Mellon from a “neutral” rating to an “underweight” rating and set a $55.50 price objective on the stock. in a report on Friday, January 19th. Vining Sparks restated a “hold” rating and issued a $60.00 price objective on shares of The Bank of New York Mellon in a report on Wednesday, January 24th. Morgan Stanley upgraded shares of The Bank of New York Mellon from an “equal weight” rating to an “overweight” rating and set a $60.00 price objective on the stock in a report on Friday, January 19th. Finally, Goldman Sachs lowered shares of The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a report on Monday, March 12th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $57.75.

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The 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.

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

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