Bank of New York Mellon Corp (BK) : Beacon Financial Group reduced its stake in Bank of New York Mellon Corp by 3.13% during the most recent quarter end. The investment management company now holds a total of 81,580 shares of Bank of New York Mellon Corp which is valued at $3 Million after selling 2,638 shares in Bank of New York Mellon Corp according to a report filed by the company on Apr 1, 2016 with the SEC.Bank of New York Mellon Corp makes up approximately 0.65% of Beacon Financial Group’s portfolio.
Other Hedge Funds, Including , Cacti Asset Management reduced its stake in BK by selling 6,275 shares or 0.84% in the most recent quarter. The Hedge Fund company now holds 743,100 shares of BK which is valued at $27.4 Million. Bank of New York Mellon Corp makes up approx 2.95% of Cacti Asset Management’s portfolio.
On the company’s financial health, Bank of New York Mellon Corp reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.64. The company had revenue of $3726.00 million for the quarter, compared to analysts expectations of $3751.20 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
Many Wall Street Analysts have commented on Bank of New York Mellon Corp. Shares were Reiterated by RBC Capital Mkts on Apr 11, 2016 to “Sector Perform” and Lowered the Price Target to $ 40 from a previous price target of $44 .Shares were Reiterated by Deutsche Bank on Jan 8, 2016 to “Buy” and Lowered the Price Target to $ 47 from a previous price target of $48 .Bank of New York Mellon Corp was Upgraded by JP Morgan to ” Overweight” on Jan 7, 2016.
Bank of New York Mellon Corp opened for trading at $35.76 and hit $36.14 on the upside on Monday, eventually ending the session at $35.86, with a gain of 1.04% or 0.37 points. The heightened volatility saw the trading volume jump to 40,04,745 shares. Company has a market cap of $38,578 M.
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 Mellons 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.