Bank Of New York Mellon Corporation (The) (BK) Stake Lowered by Ladenburg Thalmann Financial Services Inc.

Ladenburg Thalmann Financial Services Inc. cut its holdings in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 8.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,576 shares of the bank’s stock after selling 5,784 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Bank Of New York Mellon were worth $3,167,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Invictus RG purchased a new stake in shares of Bank Of New York Mellon during the third quarter worth approximately $102,000. First Interstate Bank increased its position in shares of Bank Of New York Mellon by 56.2% during the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after purchasing an additional 842 shares in the last quarter. Hudock Capital Group LLC increased its position in shares of Bank Of New York Mellon by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after purchasing an additional 7 shares in the last quarter. Advisory Services Network LLC increased its position in shares of Bank Of New York Mellon by 15.5% during the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock worth $138,000 after purchasing an additional 363 shares in the last quarter. Finally, Burt Wealth Advisors increased its position in shares of Bank Of New York Mellon by 2,186.7% during the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock worth $139,000 after purchasing an additional 2,624 shares in the last quarter. Institutional investors and hedge funds own 83.01% of the company’s stock.

In other news, CFO Thomas P. Gibbons sold 38,152 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $54.15, for a total value of $2,065,930.80. Following the transaction, the chief financial officer now owns 310,002 shares in the company, valued at approximately $16,786,608.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total value of $303,969,164.50. The disclosure for this sale can be found here. Insiders sold a total of 7,708,334 shares of company stock worth $404,956,863 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Several analysts have issued reports on the company. Zacks Investment Research cut Bank Of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Citigroup reissued a “neutral” rating and set a $56.00 target price (up previously from $53.00) on shares of Bank Of New York Mellon in a research note on Monday, October 9th. ValuEngine raised Bank Of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Credit Suisse Group reissued a “hold” rating and set a $55.00 target price on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Finally, Jefferies Group reissued a “hold” rating on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $55.28.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at $54.02 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $55,686.32, a PE ratio of 15.67, a price-to-earnings-growth ratio of 1.98 and a beta of 1.22. Bank Of New York Mellon Corporation has a 12-month low of $43.85 and a 12-month high of $55.40.

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

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Bank Of New York Mellon Company Profile

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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