Fmr LLC Has $50,994,000 Holding in Bank of New York Mellon Corp (BK)

Fmr LLC Has $50,994,000 Holding in Bank of New York Mellon Corp (BK)

Fmr LLC lowered its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,076,267 shares of the company’s stock after selling 16,474 shares during the period. Fmr LLC’s holdings in Bank of New York Mellon Corp were worth $50,994,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BK. BlackRock Group LTD boosted its stake in Bank of New York Mellon Corp by 4.8% in the third quarter. BlackRock Group LTD now owns 8,673,475 shares of the company’s stock worth $345,898,000 after buying an additional 398,578 shares during the period. Princeton Alpha Management LP boosted its stake in Bank of New York Mellon Corp by 21.4% in the third quarter. Princeton Alpha Management LP now owns 69,860 shares of the company’s stock worth $2,786,000 after buying an additional 12,326 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Bank of New York Mellon Corp by 101.6% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 28,596 shares of the company’s stock worth $1,355,000 after buying an additional 14,409 shares during the period. BB&T Securities LLC boosted its stake in Bank of New York Mellon Corp by 16.4% in the third quarter. BB&T Securities LLC now owns 41,554 shares of the company’s stock worth $1,657,000 after buying an additional 5,870 shares during the period. Finally, Murphy Pohlad Asset Management LLC boosted its stake in Bank of New York Mellon Corp by 2.5% in the third quarter. Murphy Pohlad Asset Management LLC now owns 105,396 shares of the company’s stock worth $4,203,000 after buying an additional 2,525 shares during the period. Institutional investors own 82.83% of the company’s stock.

Shares of Bank of New York Mellon Corp (NYSE:BK) opened at 47.21 on Tuesday. The firm has a market cap of $48.98 billion, a price-to-earnings ratio of 14.99 and a beta of 1.32. Bank of New York Mellon Corp has a 12-month low of $35.44 and a 12-month high of $49.54. The stock’s 50 day moving average is $46.88 and its 200 day moving average is $44.99.

Bank of New York Mellon Corp (NYSE:BK) last announced its earnings results on Thursday, January 19th. The company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. The business earned $3.79 billion during the quarter, compared to the consensus estimate of $3.85 billion. Bank of New York Mellon Corp had a net margin of 22.64% and a return on equity of 9.74%. Bank of New York Mellon Corp’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. Equities analysts expect that Bank of New York Mellon Corp will post $3.46 earnings per share for the current year.

BK has been the subject of a number of recent analyst reports. Barclays PLC upped their price target on shares of Bank of New York Mellon Corp from $48.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. JPMorgan Chase & Co. cut shares of Bank of New York Mellon Corp from an “overweight” rating to a “neutral” rating and upped their price target for the company from $47.50 to $49.00 in a report on Friday, January 6th. Raymond James Financial, Inc. upgraded shares of Bank of New York Mellon Corp from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $50.00 to $57.00 in a report on Wednesday, December 28th. Citigroup Inc upgraded shares of Bank of New York Mellon Corp from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $50.00 to $57.00 in a report on Wednesday, December 28th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods cut shares of Bank of New York Mellon Corp from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $54.00 to $48.00 in a report on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $48.92.

In related news, Vice Chairman Brian T. Shea sold 199,676 shares of Bank of New York Mellon Corp stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $45.07, for a total transaction of $8,999,397.32. Following the completion of the sale, the insider now owns 348,486 shares of the company’s stock, valued at approximately $15,706,264.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.40% of the company’s stock.

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).

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