Clarius Group LLC Purchases New Position in Bank of New York Mellon Corp (NYSE:BK)

Clarius Group LLC purchased a new stake in Bank of New York Mellon Corp (NYSE:BK) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,877 shares of the bank’s stock, valued at approximately $296,000.

Other hedge funds also recently bought and sold shares of the company. GYL Financial Synergies LLC increased its stake in shares of Bank of New York Mellon by 23.2% in the 1st quarter. GYL Financial Synergies LLC now owns 15,477 shares of the bank’s stock valued at $780,000 after purchasing an additional 2,913 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Bank of New York Mellon by 12.7% in the 1st quarter. Riverhead Capital Management LLC now owns 44,382 shares of the bank’s stock valued at $2,238,000 after purchasing an additional 5,013 shares during the last quarter. Northeast Financial Consultants Inc bought a new position in shares of Bank of New York Mellon in the 1st quarter valued at $256,000. Andra AP fonden bought a new position in shares of Bank of New York Mellon in the 1st quarter valued at $4,645,000. Finally, Neuburgh Advisers LLC increased its stake in shares of Bank of New York Mellon by 1.8% in the 1st quarter. Neuburgh Advisers LLC now owns 560,864 shares of the bank’s stock valued at $28,284,000 after purchasing an additional 9,860 shares during the last quarter. Hedge funds and other institutional investors own 84.26% of the company’s stock.

Several equities analysts have recently issued reports on BK shares. Deutsche Bank lifted their price target on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 15th. ValuEngine lowered Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Royal Bank of Canada decreased their price target on Bank of New York Mellon to $52.00 and set a “positive” rating on the stock in a research note on Thursday, April 18th. Buckingham Research decreased their price target on Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Finally, Zacks Investment Research lowered Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.33.

In related news, Director Trian Fund Management, L.P. sold 621,807 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $50.11, for a total transaction of $31,158,748.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 25,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $49.43, for a total value of $1,235,750.00. Following the sale, the executive vice president now owns 93,418 shares in the company, valued at approximately $4,617,651.74. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

Shares of BK stock opened at $44.50 on Wednesday. The firm has a market cap of $42.51 billion, a P/E ratio of 10.57, a PEG ratio of 1.33 and a beta of 1.09. Bank of New York Mellon Corp has a twelve month low of $42.43 and a twelve month high of $57.94. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.68 and a current ratio of 0.68.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 EPS. Equities research analysts expect that Bank of New York Mellon Corp will post 4.04 EPS for the current fiscal year.

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About Bank of New York Mellon

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.

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

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