Cornerstone Capital Management Holdings LLC. Acquires 56,218 Shares of The Bank of New York Mellon (NYSE:BK)

Cornerstone Capital Management Holdings LLC. increased its position in shares of The Bank of New York Mellon (NYSE:BK) by 20.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 326,647 shares of the bank’s stock after buying an additional 56,218 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in The Bank of New York Mellon were worth $17,592,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised 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 acquiring an additional 808,949 shares in the last quarter. Capital International Investors increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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. Hedge funds and other institutional investors own 84.13% of the company’s stock.

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

A number of equities research analysts recently weighed in on the company. Morgan Stanley raised 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 research note on Friday, January 19th. Goldman Sachs downgraded The Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research note on Monday, March 12th. They noted that the move was a valuation call. Deutsche Bank dropped their price target on The Bank of New York Mellon from $64.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. ValuEngine downgraded The Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Finally, Keefe, Bruyette & Woods set a $57.00 target price on The Bank of New York Mellon and gave the company a “hold” rating in a report on Thursday, March 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.75.

Shares of NYSE:BK traded down $1.38 on Friday, reaching $50.35. 5,118,133 shares of the company traded hands, compared to its average volume of 5,223,452. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $52,234.31, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.66 and a beta of 1.22. The Bank of New York Mellon has a 52 week low of $45.88 and a 52 week high of $58.99.

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

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The Bank of New York Mellon Company 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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