Trian Fund Management buys $1,255.2 Million stake in Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp (BK) : Trian Fund Management scooped up 891,217 additional shares in Bank of New York Mellon Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 31,826,733 shares of Bank of New York Mellon Corp which is valued at $1,255.2 Million.Bank of New York Mellon Corp makes up approximately 11.80% of Trian Fund Management’s portfolio.

Other Hedge Funds, Including , Dekabank Deutsche Girozentrale boosted its stake in BK in the latest quarter, The investment management firm added 3,150 additional shares and now holds a total of 140,710 shares of Bank of New York Mellon Corp which is valued at $5.5 Million. Bank of New York Mellon Corp makes up approx 0.07% of Dekabank Deutsche Girozentrale’s portfolio. Ci Investments sold out all of its stake in BK during the most recent quarter. The investment firm sold 272,500 shares of BK which is valued $10.8 Million.Strategic Financial Services Inc boosted its stake in BK in the latest quarter, The investment management firm added 3,235 additional shares and now holds a total of 104,247 shares of Bank of New York Mellon Corp which is valued at $4.1 Million. Bank of New York Mellon Corp makes up approx 0.95% of Strategic Financial Services Inc’s portfolio.Td Asset Management Inc reduced its stake in BK by selling 69,246 shares or 5.74% in the most recent quarter. The Hedge Fund company now holds 1,136,554 shares of BK which is valued at $44.9 Million. Bank of New York Mellon Corp makes up approx 0.08% of Td Asset Management Inc’s portfolio.Ifp Advisors Inc boosted its stake in BK in the latest quarter, The investment management firm added 829 additional shares and now holds a total of 15,055 shares of Bank of New York Mellon Corp which is valued at $595,124. Bank of New York Mellon Corp makes up approx 0.04% of Ifp Advisors Inc’s portfolio.

Bank of New York Mellon Corp opened for trading at $41.98 and hit $42.55 on the upside on Wednesday, eventually ending the session at $42.21, with a gain of 1.27% or 0.53 points. The heightened volatility saw the trading volume jump to 55,47,233 shares. Company has a market cap of $45,464 M.

On the company’s financial health, Bank of New York Mellon Corp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $3737.00 million for the quarter, compared to analysts expectations of $3715.95 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Bank of New York Mellon Corp. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 49 from a previous price target of $47 .Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 44 from a previous price target of $40 .Company shares were Reiterated by UBS on Apr 22, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .

The Bank of New York Mellon Corporation is a provider of financial products and services in domestic and international markets. Through its two principal businesses Investment Management and Investment Services it serves institutions corporations and high net worth individuals. For institutions and corporations it provides investment management trust and custody foreign exchange fund administration global collateral services securities lending depositary receipts corporate trust global payment/cash management banking services and clearing services. For individuals it provides mutual funds separate accounts wealth management and private banking services. BNY Mellon’s investment management businesses provide investment products in different asset classes and investment styles. The Company has $28.5 trillion in assets under custody and/or administration and $1.7 trillion in assets under management as of December 31 2014.

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