CGN Advisors LLC Sells 8,289 Shares of The Bank of New York Mellon Corporation $BK

CGN Advisors LLC lessened its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 28.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,339 shares of the bank’s stock after selling 8,289 shares during the period. CGN Advisors LLC’s holdings in Bank of New York Mellon were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of BK. Norges Bank purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $1,081,847,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after acquiring an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Bank of New York Mellon by 18.0% during the third quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock valued at $1,454,116,000 after acquiring an additional 2,034,781 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $135,728,000. Finally, AQR Capital Management LLC boosted its stake in Bank of New York Mellon by 29.1% in the third quarter. AQR Capital Management LLC now owns 4,023,663 shares of the bank’s stock valued at $438,418,000 after acquiring an additional 906,218 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

NYSE BK opened at $114.90 on Friday. The company has a market cap of $79.08 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.07 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s fifty day moving average price is $119.21 and its 200 day moving average price is $113.44. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $128.76.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The company had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, equities research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Friday, January 23rd were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.8%. Bank of New York Mellon’s payout ratio is 28.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BK shares. Wells Fargo & Company upped their price target on Bank of New York Mellon from $119.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. Barclays boosted their target price on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, March 11th. Morgan Stanley raised their price target on Bank of New York Mellon from $124.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada upped their price objective on shares of Bank of New York Mellon from $124.00 to $130.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.92.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.