The Bank Of New York Mellon Corp. (BK) is St. James Investment Company LLC’s 7th Largest Position

The Bank Of New York Mellon Corp. (BK) is St. James Investment Company LLC’s 7th Largest Position

St. James Investment Company LLC increased its stake in Bank Of New York Mellon Corp. (NYSE:BK) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 1,350,472 shares of the company’s stock after buying an additional 49,408 shares during the period. Bank Of New York Mellon Corp. accounts for about 7.0% of St. James Investment Company LLC’s investment portfolio, making the stock its 7th largest position. St. James Investment Company LLC owned approximately 0.13% of Bank Of New York Mellon Corp. worth $53,857,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BK. Advisory Services Network LLC boosted its stake in Bank Of New York Mellon Corp. by 6.9% in the third quarter. Advisory Services Network LLC now owns 2,669 shares of the company’s stock valued at $106,000 after buying an additional 173 shares during the last quarter. Pinkerton Retirement Specialists LLC boosted its stake in Bank Of New York Mellon Corp. by 5,546.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,823 shares of the company’s stock valued at $110,000 after buying an additional 2,773 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Bank Of New York Mellon Corp. by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 3,641 shares of the company’s stock valued at $139,000 after buying an additional 69 shares during the last quarter. Sippican Capital Advisors purchased a new stake in Bank Of New York Mellon Corp. during the third quarter valued at $200,000. Finally, Capital Guardian Trust Co. boosted its stake in Bank Of New York Mellon Corp. by 130.6% in the second quarter. Capital Guardian Trust Co. now owns 5,212 shares of the company’s stock valued at $202,000 after buying an additional 2,952 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Shares of Bank Of New York Mellon Corp. (NYSE:BK) opened at 46.23 on Thursday. The firm’s 50-day moving average is $47.83 and its 200-day moving average is $42.95. Bank Of New York Mellon Corp. has a 52 week low of $32.20 and a 52 week high of $49.54. The stock has a market capitalization of $48.88 billion, a price-to-earnings ratio of 15.64 and a beta of 1.30.

Bank Of New York Mellon Corp. (NYSE:BK) last announced its earnings results on Thursday, October 20th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.09. The company earned $3.93 billion during the quarter, compared to the consensus estimate of $3.86 billion. Bank Of New York Mellon Corp. had a net margin of 21.65% and a return on equity of 9.66%. Bank Of New York Mellon Corp.’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. Analysts forecast that Bank Of New York Mellon Corp. will post $3.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Tuesday, January 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.64%. Bank Of New York Mellon Corp.’s dividend payout ratio (DPR) is 25.68%.

BK has been the topic of several research reports. Barclays PLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Bank Of New York Mellon Corp. in a research report on Tuesday, October 11th. Credit Suisse Group AG began coverage on Bank Of New York Mellon Corp. in a research report on Tuesday, November 22nd. They issued a “neutral” rating and a $46.00 price target on the stock. Buckingham Research cut Bank Of New York Mellon Corp. from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research report on Monday, November 21st. Zacks Investment Research raised Bank Of New York Mellon Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Friday, October 14th. Finally, Citigroup Inc. raised Bank Of New York Mellon Corp. from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $50.00 to $57.00 in a research report on Wednesday, December 28th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.50.

In other Bank Of New York Mellon Corp. news, CEO Gerald L. Hassell sold 191,042 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $43.22, for a total value of $8,256,835.24. Following the completion of the sale, the chief executive officer now directly owns 1,003,176 shares in the company, valued at $43,357,266.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gerald L. Hassell sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $34.35, for a total transaction of $1,374,000.00. Following the completion of the sale, the chief executive officer now owns 1,003,176 shares of the company’s stock, valued at $34,459,095.60. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

About Bank Of New York Mellon Corp.

The Bank of New York Mellon Corporation (BNY Mellon) 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 credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

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).

Related posts

Leave a Comment