Strategic Wealth Partners Ltd. Has $102,000 Stock Holdings in Bank of New York Mellon Corp (NYSE:BK)

Share on StockTwits

Strategic Wealth Partners Ltd. cut its stake in Bank of New York Mellon Corp (NYSE:BK) by 17.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,314 shares of the bank’s stock after selling 474 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Bank of New York Mellon were worth $102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of Bank of New York Mellon by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 10,721,814 shares of the bank’s stock valued at $503,675,000 after purchasing an additional 655,356 shares during the last quarter. Marathon Asset Management LLP grew its position in Bank of New York Mellon by 13.6% during the 2nd quarter. Marathon Asset Management LLP now owns 1,550,270 shares of the bank’s stock worth $68,439,000 after acquiring an additional 185,144 shares during the last quarter. First Trust Advisors LP grew its position in Bank of New York Mellon by 25.2% during the 2nd quarter. First Trust Advisors LP now owns 1,461,024 shares of the bank’s stock worth $64,504,000 after acquiring an additional 293,957 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Bank of New York Mellon by 0.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,262,352 shares of the bank’s stock worth $63,660,000 after acquiring an additional 11,228 shares during the last quarter. Finally, Bank of Montreal Can grew its position in Bank of New York Mellon by 11.4% during the 1st quarter. Bank of Montreal Can now owns 1,141,671 shares of the bank’s stock worth $57,573,000 after acquiring an additional 116,866 shares during the last quarter. 82.60% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on BK shares. Buckingham Research reduced their price objective on Bank of New York Mellon from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Morgan Stanley set a $41.00 price objective on Bank of New York Mellon and gave the stock a “sell” rating in a research report on Friday, August 9th. ValuEngine lowered Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Deutsche Bank reduced their price objective on Bank of New York Mellon from $47.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on Bank of New York Mellon from $50.00 to $49.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 9th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Bank of New York Mellon has an average rating of “Hold” and an average target price of $49.73.

Shares of NYSE BK traded down $1.15 during trading on Friday, reaching $41.02. The company had a trading volume of 3,024,923 shares, compared to its average volume of 4,641,971. The company’s fifty day moving average price is $44.65 and its 200-day moving average price is $47.78. Bank of New York Mellon Corp has a 12 month low of $40.77 and a 12 month high of $54.27. The stock has a market cap of $39.75 billion, a P/E ratio of 9.74, a PEG ratio of 1.30 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.79.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.07. Bank of New York Mellon had a return on equity of 10.74% and a net margin of 19.93%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’s revenue was down 5.2% on a year-over-year basis. As a group, equities analysts predict that Bank of New York Mellon Corp will post 3.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Monday, July 29th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, July 26th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.28. Bank of New York Mellon’s payout ratio is 29.45%.

Bank of New York Mellon declared that its Board of Directors has initiated a share repurchase plan on Thursday, June 27th that allows the company to repurchase $3.94 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, Vice Chairman William M. Daley purchased 11,350 shares of Bank of New York Mellon stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.93 per share, for a total transaction of $509,955.50. Following the transaction, the insider now owns 5,700 shares of the company’s stock, valued at approximately $256,101. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Thomas P. Gibbons sold 318,556 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $46.72, for a total value of $14,882,936.32. Following the completion of the sale, the insider now owns 539,052 shares in the company, valued at approximately $25,184,509.44. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

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.

Further Reading: What is operating income?

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).

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

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Herzfeld Caribbean Basin Fund, Inc.  to Issue — Dividend of $0.28
Herzfeld Caribbean Basin Fund, Inc. to Issue — Dividend of $0.28
Analysts Anticipate J & J Snack Foods Corp  Will Post Earnings of $1.43 Per Share
Analysts Anticipate J & J Snack Foods Corp Will Post Earnings of $1.43 Per Share
Synopsys, Inc.  Expected to Announce Earnings of $0.73 Per Share
Synopsys, Inc. Expected to Announce Earnings of $0.73 Per Share
Tyson Foods, Inc.  Expected to Announce Earnings of $1.22 Per Share
Tyson Foods, Inc. Expected to Announce Earnings of $1.22 Per Share
Dorman Products Inc.  Expected to Announce Earnings of $0.89 Per Share
Dorman Products Inc. Expected to Announce Earnings of $0.89 Per Share
Brokerages Expect Dorman Products Inc.  Will Announce Quarterly Sales of $270.67 Million
Brokerages Expect Dorman Products Inc. Will Announce Quarterly Sales of $270.67 Million


© 2006-2019 Ticker Report