BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $29.47 Million Holdings in Bank Of New York Mellon Corporation (The) (BK)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 555,834 shares of the bank’s stock after selling 12,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.05% of Bank Of New York Mellon worth $29,470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Berkshire Hathaway Inc. boosted its position in shares of Bank Of New York Mellon by 52.2% in the 2nd quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock valued at $2,562,715,000 after purchasing an additional 17,217,529 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Bank Of New York Mellon by 1,303.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,624,187 shares of the bank’s stock worth $133,886,000 after acquiring an additional 2,437,230 shares during the period. Capital International Investors boosted its position in Bank Of New York Mellon by 27.9% during the 2nd quarter. Capital International Investors now owns 10,437,822 shares of the bank’s stock worth $532,538,000 after acquiring an additional 2,275,822 shares during the period. American Century Companies Inc. boosted its position in Bank Of New York Mellon by 39.2% during the 3rd quarter. American Century Companies Inc. now owns 6,008,434 shares of the bank’s stock worth $318,567,000 after acquiring an additional 1,691,889 shares during the period. Finally, Vanguard Group Inc. boosted its position in Bank Of New York Mellon by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 67,420,467 shares of the bank’s stock worth $3,439,792,000 after acquiring an additional 1,071,088 shares during the period. 82.83% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have commented on BK. ValuEngine upgraded Bank Of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company initiated coverage on Bank Of New York Mellon in a report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price target for the company. Zacks Investment Research lowered Bank Of New York Mellon from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. Jefferies Group reissued a “hold” rating on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $55.00 price objective on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $55.28.

Bank Of New York Mellon Corporation (NYSE:BK) opened at $54.43 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $56,290.49, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 2.00 and a beta of 1.22. Bank Of New York Mellon Corporation has a 1 year low of $43.85 and a 1 year high of $55.40.

Bank Of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the firm earned $0.90 EPS. Bank Of New York Mellon’s revenue for the quarter was up 1.9% compared to the same quarter last year. equities analysts anticipate that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon’s payout ratio is presently 28.07%.

In other Bank Of New York Mellon news, Vice Chairman Brian T. Shea sold 22,228 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total value of $1,139,407.28. Following the transaction, the insider now owns 181,815 shares of the company’s stock, valued at $9,319,836.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Gerald L. Hassell sold 24,280 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total value of $1,255,033.20. Following the completion of the transaction, the chairman now directly owns 857,899 shares in the company, valued at approximately $44,344,799.31. The disclosure for this sale can be found here. Insiders have sold a total of 7,708,334 shares of company stock worth $404,956,863 in the last three months. 3.60% of the stock is owned by insiders.

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About Bank Of New York Mellon

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.

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

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