Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Cuts Holdings in Bank of New York Mellon Corp (BK)

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Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lowered its stake in Bank of New York Mellon Corp (NYSE:BK) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 251,361 shares of the bank’s stock after selling 23,700 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Bank of New York Mellon were worth $12,953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BK. Trian Fund Management L.P. lifted its position in shares of Bank of New York Mellon by 2.3% in the first quarter. Trian Fund Management L.P. now owns 16,136,596 shares of the bank’s stock worth $831,519,000 after purchasing an additional 360,164 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Bank of New York Mellon by 1.0% in the first quarter. Artisan Partners Limited Partnership now owns 13,605,620 shares of the bank’s stock worth $701,098,000 after purchasing an additional 134,673 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bank of New York Mellon by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 10,680,589 shares of the bank’s stock worth $574,033,000 after purchasing an additional 161,352 shares in the last quarter. Fiduciary Management Inc. WI lifted its position in shares of Bank of New York Mellon by 1.0% in the first quarter. Fiduciary Management Inc. WI now owns 8,125,128 shares of the bank’s stock worth $418,688,000 after purchasing an additional 80,755 shares in the last quarter. Finally, Vulcan Value Partners LLC lifted its position in shares of Bank of New York Mellon by 0.3% in the fourth quarter. Vulcan Value Partners LLC now owns 5,917,561 shares of the bank’s stock worth $318,720,000 after purchasing an additional 20,243 shares in the last quarter. 82.08% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Kurtis R. Kurimsky sold 4,701 shares of the business’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $57.44, for a total transaction of $270,025.44. Following the transaction, the insider now directly owns 16,487 shares in the company, valued at $947,013.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 15,000 shares of the company’s stock in a transaction on Monday, April 23rd. The shares were sold at an average price of $55.89, for a total transaction of $838,350.00. Following the completion of the transaction, the executive vice president now owns 100,609 shares in the company, valued at $5,623,037.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,701 shares of company stock worth $3,796,375. 1.76% of the stock is owned by corporate insiders.

A number of analysts have recently commented on BK shares. Zacks Investment Research lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Monday, May 21st. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $66.00 to $68.00 and gave the stock an “overweight” rating in a research report on Friday, April 20th. ValuEngine raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Thursday, April 19th. Goldman Sachs Group lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating in a research report on Monday, March 12th. They noted that the move was a valuation call. Finally, Sandler O’Neill reissued a “hold” rating and issued a $54.00 price objective on shares of Bank of New York Mellon in a research report on Monday, April 9th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. Bank of New York Mellon has an average rating of “Hold” and an average price target of $58.32.

Shares of Bank of New York Mellon opened at $57.37 on Thursday, according to MarketBeat. The firm has a market cap of $57.95 billion, a P/E ratio of 15.94, a PEG ratio of 1.73 and a beta of 1.20. Bank of New York Mellon Corp has a 1-year low of $49.01 and a 1-year high of $58.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Thursday, April 19th. The bank reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.14. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.04 billion. Bank of New York Mellon had a net margin of 25.20% and a return on equity of 11.27%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 earnings per share. analysts predict that Bank of New York Mellon Corp will post 4.27 earnings per share for the current year.

About Bank of New York Mellon

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.

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

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