Portland Global Advisors Lowers stake in Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp (BK) : Portland Global Advisors reduced its stake in Bank of New York Mellon Corp by 1.41% during the most recent quarter end. The investment management company now holds a total of 55,237 shares of Bank of New York Mellon Corp which is valued at $2,205,613 after selling 790 shares in Bank of New York Mellon Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Bank of New York Mellon Corp makes up approximately 0.98% of Portland Global Advisors’s portfolio.

Other Hedge Funds, Including , Boston Advisors sold out all of its stake in BK during the most recent quarter. The investment firm sold 372,467 shares of BK which is valued $14,872,607.Mercer Capital Advisers reduced its stake in BK by selling 100 shares or 5.26% in the most recent quarter. The Hedge Fund company now holds 1,800 shares of BK which is valued at $70,542. Bank of New York Mellon Corp makes up approx 0.06% of Mercer Capital Advisers’s portfolio. Donald L. Hagan sold out all of its stake in BK during the most recent quarter. The investment firm sold 628 shares of BK which is valued $24,611.Tiaa Cref Trust Co Fsbmo boosted its stake in BK in the latest quarter, The investment management firm added 611 additional shares and now holds a total of 43,029 shares of Bank of New York Mellon Corp which is valued at $1,686,307. Bank of New York Mellon Corp makes up approx 0.02% of Tiaa Cref Trust Co Fsbmo’s portfolio.Hartford Investment Management Co reduced its stake in BK by selling 8,549 shares or 3.01% in the most recent quarter. The Hedge Fund company now holds 275,938 shares of BK which is valued at $10,814,010. Bank of New York Mellon Corp makes up approx 0.22% of Hartford Investment Management Co’s portfolio.

Bank of New York Mellon Corp closed down -0.24 points or -0.61% at $39.4 with 43,75,328 shares getting traded on Friday. Post opening the session at $39.47, the shares hit an intraday low of $39.35 and an intraday high of $39.76 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Bank of New York Mellon Corp reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.75. The company had revenue of $3776.00 million for the quarter, compared to analysts expectations of $3795.74 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.73 EPS.

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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