Sicart Associates LLC Purchases 7,925 Shares of Bank Of New York Mellon Corporation (The) (BK)

Sicart Associates LLC boosted its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 112.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the bank’s stock after buying an additional 7,925 shares during the quarter. Sicart Associates LLC’s holdings in Bank Of New York Mellon were worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in BK. Invictus RG purchased a new stake in Bank Of New York Mellon in the third quarter worth $102,000. Rowland & Co. Investment Counsel ADV purchased a new stake in Bank Of New York Mellon in the fourth quarter worth $124,000. Advisory Services Network LLC increased its position in Bank Of New York Mellon by 15.5% in the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock worth $138,000 after buying an additional 363 shares during the last quarter. Horan Capital Advisors LLC. purchased a new stake in Bank Of New York Mellon in the third quarter worth $139,000. Finally, Sawyer & Company Inc bought a new position in shares of Bank Of New York Mellon in the fourth quarter worth $164,000. 82.93% of the stock is owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (BK) traded down $0.88 during trading hours on Wednesday, reaching $57.54. The company had a trading volume of 5,864,000 shares, compared to its average volume of 3,727,610. The company has a market capitalization of $59,730.00, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.84 and a beta of 1.22. Bank Of New York Mellon Corporation has a 12 month low of $43.85 and a 12 month high of $58.99. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85.

Bank Of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.99 billion. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. equities analysts predict that Bank Of New York Mellon Corporation will post 3.55 earnings per share for the current year.

In other Bank Of New York Mellon news, Director Trian Fund Management, L.P. sold 5,798,725 shares of Bank Of New York Mellon stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total transaction of $303,969,164.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward P. Garden sold 1,031,157 shares of Bank Of New York Mellon stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $53.13, for a total value of $54,785,371.41. The disclosure for this sale can be found here. Insiders have sold 7,708,334 shares of company stock valued at $404,956,863 in the last three months. 3.60% of the stock is owned by corporate insiders.

A number of equities analysts have recently commented on BK shares. Barclays raised their price target on Bank Of New York Mellon from $55.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research lowered Bank Of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 price target (up from $52.85) on shares of Bank Of New York Mellon in a report on Friday, October 20th. Morgan Stanley raised their price target on Bank Of New York Mellon from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. Bank Of New York Mellon presently has a consensus rating of “Hold” and a consensus target price of $56.59.

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Bank Of New York Mellon 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.

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

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