Oppenheimer Asset Management Inc. Reduces Holdings in Bank of New York Mellon Corp (BK)

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Oppenheimer Asset Management Inc. cut its position in Bank of New York Mellon Corp (NYSE:BK) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,056 shares of the bank’s stock after selling 1,244 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Bank of New York Mellon were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC raised its position in Bank of New York Mellon by 30.1% in the third quarter. FMR LLC now owns 23,914,735 shares of the bank’s stock valued at $1,219,412,000 after purchasing an additional 5,530,942 shares during the last quarter. Longview Partners Guernsey LTD raised its position in shares of Bank of New York Mellon by 0.7% during the third quarter. Longview Partners Guernsey LTD now owns 17,773,813 shares of the bank’s stock worth $906,287,000 after acquiring an additional 124,800 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Bank of New York Mellon by 8.6% during the third quarter. Macquarie Group Ltd. now owns 13,881,749 shares of the bank’s stock worth $707,831,000 after acquiring an additional 1,104,071 shares during the last quarter. Morgan Stanley raised its position in shares of Bank of New York Mellon by 7.9% during the third quarter. Morgan Stanley now owns 9,132,243 shares of the bank’s stock worth $465,653,000 after acquiring an additional 671,263 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Bank of New York Mellon by 15.4% during the third quarter. American Century Companies Inc. now owns 6,635,794 shares of the bank’s stock worth $338,359,000 after acquiring an additional 883,923 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

NYSE BK opened at $51.83 on Friday. Bank of New York Mellon Corp has a one year low of $43.67 and a one year high of $58.67. The company has a market cap of $51.25 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.47 and a beta of 1.03. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Wednesday, January 16th. The bank reported $0.99 EPS for the quarter, topping the consensus estimate of $0.92 by $0.07. Bank of New York Mellon had a return on equity of 11.53% and a net margin of 22.19%. The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. As a group, research analysts predict that Bank of New York Mellon Corp will post 4.27 EPS for the current fiscal year.

Bank of New York Mellon announced that its Board of Directors has approved a share buyback plan on Monday, December 10th that permits the company to repurchase $830.00 million in shares. This repurchase authorization permits the bank to buy up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 8th. Investors of record on Monday, January 28th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, January 25th. This represents a $1.12 annualized dividend and a yield of 2.16%. Bank of New York Mellon’s dividend payout ratio is currently 26.60%.

In related news, Director Trian Fund Management, L.P. sold 2,107,000 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $53.48, for a total transaction of $112,682,360.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward P. Garden sold 1,400,000 shares of the firm’s stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $53.64, for a total value of $75,096,000.00. The disclosure for this sale can be found here. Company insiders own 1.76% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research restated a “hold” rating on shares of Bank of New York Mellon in a research report on Monday, December 31st. Credit Suisse Group lowered their price objective on Bank of New York Mellon from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, December 7th. Deutsche Bank lowered their price objective on Bank of New York Mellon from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, November 16th. Vining Sparks restated a “buy” rating and set a $55.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Finally, Citigroup downgraded Bank of New York Mellon from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $52.00 in a research report on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Bank of New York Mellon currently has an average rating of “Hold” and an average target price of $55.00.

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Bank of New York Mellon 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.

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

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