Torch Wealth Management Lowers stake in Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp (BK) : Torch Wealth Management reduced its stake in Bank of New York Mellon Corp by 0.23% during the most recent quarter end. The investment management company now holds a total of 33,250 shares of Bank of New York Mellon Corp which is valued at $1,299,743 after selling 75 shares in Bank of New York Mellon Corp , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Bank of New York Mellon Corp makes up approximately 0.96% of Torch Wealth Management’s portfolio.

Other Hedge Funds, Including , First Premier Bank boosted its stake in BK in the latest quarter, The investment management firm added 1,683 additional shares and now holds a total of 10,794 shares of Bank of New York Mellon Corp which is valued at $421,937. Bank of New York Mellon Corp makes up approx 0.32% of First Premier Bank’s portfolio.Legal General Group Plc reduced its stake in BK by selling 13,547 shares or 0.27% in the most recent quarter. The Hedge Fund company now holds 4,970,437 shares of BK which is valued at $198,568,958. Bank of New York Mellon Corp makes up approx 0.20% of Legal General Group Plc’s portfolio.Advisory Services Network boosted its stake in BK in the latest quarter, The investment management firm added 173 additional shares and now holds a total of 2,669 shares of Bank of New York Mellon Corp which is valued at $108,281. Bank of New York Mellon Corp makes up approx 0.02% of Advisory Services Network’s portfolio.Trust Co Of Oklahoma boosted its stake in BK in the latest quarter, The investment management firm added 269 additional shares and now holds a total of 10,616 shares of Bank of New York Mellon Corp which is valued at $430,691. Bank of New York Mellon Corp makes up approx 0.24% of Trust Co Of Oklahoma’s portfolio.Curbstone Financial Management Corp reduced its stake in BK by selling 600 shares or 5.19% in the most recent quarter. The Hedge Fund company now holds 10,950 shares of BK which is valued at $447,089. Bank of New York Mellon Corp makes up approx 0.14% of Curbstone Financial Management Corp’s portfolio.

Bank of New York Mellon Corp closed down -0.73 points or -1.79% at $39.95 with 40,92,933 shares getting traded on Tuesday. Post opening the session at $40.6, the shares hit an intraday low of $39.775 and an intraday high of $40.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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