49,656,019 Shares in Bank of New York Mellon Corp (BK) Acquired by Dodge & Cox

Dodge & Cox purchased a new position in Bank of New York Mellon Corp (NYSE:BK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 49,656,019 shares of the company’s stock, valued at approximately $2,352,702,000. Bank of New York Mellon Corp makes up approximately 2.1% of Dodge & Cox’s investment portfolio, making the stock its 15th largest position. Dodge & Cox owned 4.79% of Bank of New York Mellon Corp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BK. Elkhorn Investments LLC purchased a new position in Bank of New York Mellon Corp during the fourth quarter worth $701,000. Norges Bank purchased a new position in Bank of New York Mellon Corp during the fourth quarter worth $178,809,000. Assenagon Asset Management S.A. purchased a new position in Bank of New York Mellon Corp during the fourth quarter worth $8,576,000. Sandler Capital Management purchased a new position in Bank of New York Mellon Corp during the fourth quarter worth $6,687,000. Finally, Numeric Investors LLC purchased a new position in Bank of New York Mellon Corp during the fourth quarter worth $12,579,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Bank of New York Mellon Corp (NYSE:BK)

Bank of New York Mellon Corp (NYSE:BK) traded down 0.67% during trading on Monday, hitting $47.59. The stock had a trading volume of 1,695,565 shares. Bank of New York Mellon Corp has a 1-year low of $35.44 and a 1-year high of $49.54. The stock’s 50-day moving average price is $46.88 and its 200-day moving average price is $44.99. The company has a market capitalization of $49.37 billion, a P/E ratio of 15.11 and a beta of 1.32.

Bank of New York Mellon Corp (NYSE:BK) last issued its quarterly earnings data on Thursday, January 19th. The company reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Bank of New York Mellon Corp had a net margin of 22.64% and a return on equity of 9.74%. The business earned $3.79 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the business posted $0.68 earnings per share. Bank of New York Mellon Corp’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts expect that Bank of New York Mellon Corp will post $3.46 earnings per share for the current year.

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A number of analysts have commented on the company. JPMorgan Chase & Co. lowered Bank of New York Mellon Corp from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $47.50 to $49.00 in a report on Friday, January 6th. Evercore ISI lowered Bank of New York Mellon Corp from a “hold” rating to an “underperform” rating and set a $48.00 price objective for the company. in a report on Friday, March 3rd. Raymond James Financial, Inc. raised Bank of New York Mellon Corp from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $50.00 to $57.00 in a report on Wednesday, December 28th. Citigroup Inc raised Bank of New York Mellon Corp from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $50.00 to $57.00 in a report on Wednesday, December 28th. They noted that the move was a valuation call. Finally, Buckingham Research lowered Bank of New York Mellon Corp from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a report on Monday, November 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $48.92.

In other Bank of New York Mellon Corp news, Vice Chairman Brian T. Shea sold 199,676 shares of the firm’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $45.07, for a total value of $8,999,397.32. Following the completion of the sale, the insider now directly owns 348,486 shares in the company, valued at $15,706,264.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.40% of the company’s stock.

About Bank of New York Mellon Corp

The Bank of New York Mellon Corporation (BNY Mellon) is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

5 Day Chart for NYSE:BK

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