Northstar Group Inc. Cuts Stake in Bank of New York Mellon Corp (BK)

Northstar Group Inc. decreased its stake in Bank of New York Mellon Corp (NYSE:BK) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,553 shares of the bank’s stock after selling 1,644 shares during the period. Northstar Group Inc.’s holdings in Bank of New York Mellon Corp were worth $845,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roble Belko & Company Inc increased its position in Bank of New York Mellon Corp by 25.1% in the third quarter. Roble Belko & Company Inc now owns 2,502 shares of the bank’s stock valued at $100,000 after buying an additional 502 shares during the period. Quadrant Capital Group LLC increased its position in Bank of New York Mellon Corp by 1.9% in the third quarter. Quadrant Capital Group LLC now owns 3,641 shares of the bank’s stock valued at $139,000 after buying an additional 69 shares during the period. SRB Corp increased its position in Bank of New York Mellon Corp by 12.9% in the third quarter. SRB Corp now owns 3,903 shares of the bank’s stock valued at $156,000 after buying an additional 447 shares during the period. Kistler Tiffany Companies LLC increased its position in Bank of New York Mellon Corp by 0.3% in the third quarter. Kistler Tiffany Companies LLC now owns 4,117 shares of the bank’s stock valued at $164,000 after buying an additional 14 shares during the period. Finally, Sippican Capital Advisors purchased a new position in Bank of New York Mellon Corp during the third quarter valued at about $200,000. 82.83% of the stock is 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 up 0.39% during mid-day trading on Friday, reaching $46.83. The company’s stock had a trading volume of 3,134,786 shares. Bank of New York Mellon Corp has a 1-year low of $35.72 and a 1-year high of $49.54. The firm has a 50-day moving average of $47.28 and a 200 day moving average of $46.03. The firm has a market capitalization of $48.58 billion, a price-to-earnings ratio of 14.87 and a beta of 1.32.

Bank of New York Mellon Corp (NYSE:BK) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm earned $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. Bank of New York Mellon Corp had a net margin of 22.64% and a return on equity of 9.74%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 earnings per share. Equities analysts expect that Bank of New York Mellon Corp will post $3.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Stockholders of record on Tuesday, May 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Friday, April 28th. Bank of New York Mellon Corp’s dividend payout ratio (DPR) is 24.05%.

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Several research firms have recently issued reports on BK. Barclays PLC lifted their price target on Bank of New York Mellon Corp from $48.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. Citigroup Inc raised Bank of New York Mellon Corp from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $50.00 to $57.00 in a research note on Wednesday, December 28th. They noted that the move was a valuation call. Raymond James Financial, Inc. raised Bank of New York Mellon Corp from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $50.00 to $57.00 in a research note on Wednesday, December 28th. Evercore ISI downgraded Bank of New York Mellon Corp from a “hold” rating to an “underperform” rating and set a $48.00 price target for the company. in a research note on Friday, March 3rd. Finally, Credit Suisse Group AG reissued a “neutral” rating on shares of Bank of New York Mellon Corp in a research note on Friday. One 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 stock. Bank of New York Mellon Corp has an average rating of “Hold” and a consensus target price of $50.92.

In other news, Vice Chairman Brian T. Shea sold 199,676 shares of the company’s stock in a transaction dated Wednesday, February 8th. The shares were sold at an average price of $45.07, for a total transaction of $8,999,397.32. Following the completion of the transaction, the insider now directly owns 348,486 shares of the company’s stock, valued at $15,706,264.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

About Bank of New York Mellon Corp

The Bank of New York Mellon Corporation 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 the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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