Neuburgh Advisers LLC Raises Stake in Bank of New York Mellon Corp (BK)

Neuburgh Advisers LLC increased its stake in Bank of New York Mellon Corp (NYSE:BK) by 0.0% during the first quarter, Holdings Channel reports. The institutional investor owned 1,184,968 shares of the bank’s stock after buying an additional 340 shares during the period. Bank of New York Mellon Corp makes up 2.2% of Neuburgh Advisers LLC’s portfolio, making the stock its 6th largest position. Neuburgh Advisers LLC’s holdings in Bank of New York Mellon Corp were worth $55,966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dodge & Cox acquired a new position in Bank of New York Mellon Corp during the fourth quarter valued at $2,352,702,000. State Street Corp raised its position in Bank of New York Mellon Corp by 8.5% in the fourth quarter. State Street Corp now owns 49,205,956 shares of the bank’s stock valued at $2,331,384,000 after buying an additional 3,836,306 shares during the period. Dimensional Fund Advisors LP raised its position in Bank of New York Mellon Corp by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,892,943 shares of the bank’s stock valued at $373,972,000 after buying an additional 290,550 shares during the period. Tweedy Browne Co. LLC raised its position in Bank of New York Mellon Corp by 4.1% in the fourth quarter. Tweedy Browne Co. LLC now owns 4,702,087 shares of the bank’s stock valued at $222,785,000 after buying an additional 183,145 shares during the period. Finally, American Century Companies Inc. raised its position in Bank of New York Mellon Corp by 135.6% in the first quarter. American Century Companies Inc. now owns 3,776,619 shares of the bank’s stock valued at $178,370,000 after buying an additional 2,173,699 shares during the period. 82.83% of the stock is owned by institutional investors and hedge funds.

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

Shares of Bank of New York Mellon Corp (NYSE BK) opened at 48.39 on Friday. The company has a 50 day moving average of $47.13 and a 200-day moving average of $47.09. Bank of New York Mellon Corp has a 12-month low of $35.72 and a 12-month high of $49.54. The company has a market cap of $50.32 billion, a PE ratio of 14.88 and a beta of 1.32.

Bank of New York Mellon Corp (NYSE:BK) last issued its earnings results on Thursday, April 20th. The bank reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. Bank of New York Mellon Corp had a net margin of 22.64% and a return on equity of 9.74%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Bank of New York Mellon Corp will post $3.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Tuesday, May 2nd were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, April 28th. This represents a $0.76 annualized dividend and a yield of 1.57%. Bank of New York Mellon Corp’s payout ratio is presently 24.05%.

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Several research analysts have recently weighed in on the company. Bank of America Corp set a $49.00 price objective on Bank of New York Mellon Corp and gave the stock a “sell” rating in a research report on Saturday, May 27th. Jefferies Group LLC restated a “hold” rating and issued a $52.00 target price on shares of Bank of New York Mellon Corp in a research note on Wednesday, May 17th. Rafferty Capital Markets restated a “buy” rating and issued a $53.00 target price on shares of Bank of New York Mellon Corp in a research note on Tuesday, April 25th. Credit Suisse Group AG restated a “neutral” rating on shares of Bank of New York Mellon Corp in a research note on Friday, April 21st. Finally, Deutsche Bank AG reduced their target price on Bank of New York Mellon Corp from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $50.93.

In other news, EVP J Kevin Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $47.64, for a total transaction of $476,400.00. Following the sale, the executive vice president now directly owns 100,487 shares in the company, valued at approximately $4,787,200.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Thomas P. Gibbons sold 102,174 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $47.71, for a total transaction of $4,874,721.54. Following the sale, the insider now owns 271,416 shares in the company, valued at $12,949,257.36. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Bank of New York Mellon Corp Company 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.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).

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