Boyar Asset Management Lowers stake in Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp (BK) : Boyar Asset Management reduced its stake in Bank of New York Mellon Corp by 1.25% during the most recent quarter end. The investment management company now holds a total of 84,177 shares of Bank of New York Mellon Corp which is valued at $3,344,352 after selling 1,069 shares in Bank of New York Mellon Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Bank of New York Mellon Corp makes up approximately 2.57% of Boyar Asset Management’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management reduced its stake in BK by selling 847,226 shares or 78.31% in the most recent quarter. The Hedge Fund company now holds 234,714 shares of BK which is valued at $9,325,187. Bank of New York Mellon Corp makes up approx 0.15% of Riverhead Capital Management’s portfolio.Alliancebernstein reduced its stake in BK by selling 105,764 shares or 5.05% in the most recent quarter. The Hedge Fund company now holds 1,988,471 shares of BK which is valued at $79,001,953. Bank of New York Mellon Corp makes up approx 0.07% of Alliancebernstein’s portfolio.Blackrock Advisors reduced its stake in BK by selling 338,398 shares or 40.99% in the most recent quarter. The Hedge Fund company now holds 487,156 shares of BK which is valued at $19,354,708. Bank of New York Mellon Corp makes up approx 0.02% of Blackrock Advisors’s portfolio.Arbor Wealth Management boosted its stake in BK in the latest quarter, The investment management firm added 628 additional shares and now holds a total of 53,040 shares of Bank of New York Mellon Corp which is valued at $2,107,279. Bank of New York Mellon Corp makes up approx 1.98% of Arbor Wealth Management’s portfolio.Private Advisor Group boosted its stake in BK in the latest quarter, The investment management firm added 19,618 additional shares and now holds a total of 34,458 shares of Bank of New York Mellon Corp which is valued at $1,398,650. Bank of New York Mellon Corp makes up approx 0.06% of Private Advisor Group’s portfolio.

Bank of New York Mellon Corp opened for trading at $40.92 and hit $41.405 on the upside on Monday, eventually ending the session at $41.26, with a gain of 1.00% or 0.41 points. The heightened volatility saw the trading volume jump to 31,78,657 shares. Company has a market cap of $44,052 M.

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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