NEXT Financial Group Inc cut its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 16.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,851 shares of the bank’s stock after selling 6,567 shares during the period. Bank Of New York Mellon makes up 0.8% of NEXT Financial Group Inc’s holdings, making the stock its 29th largest position. NEXT Financial Group Inc’s holdings in Bank Of New York Mellon were worth $1,823,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Bank Of New York Mellon by 1.6% in the second quarter. Vanguard Group Inc. now owns 67,420,467 shares of the bank’s stock valued at $3,439,792,000 after purchasing an additional 1,071,088 shares during the period. Berkshire Hathaway Inc. grew its holdings in Bank Of New York Mellon by 52.2% during the second quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock worth $2,562,715,000 after acquiring an additional 17,217,529 shares during the period. Capital International Investors grew its holdings in Bank Of New York Mellon by 120.8% during the third quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock worth $1,221,846,000 after acquiring an additional 12,607,183 shares during the period. First Eagle Investment Management LLC grew its holdings in Bank Of New York Mellon by 1.4% during the third quarter. First Eagle Investment Management LLC now owns 19,753,288 shares of the bank’s stock worth $1,047,319,000 after acquiring an additional 271,858 shares during the period. Finally, Longview Partners Guernsey LTD grew its holdings in Bank Of New York Mellon by 5.2% during the third quarter. Longview Partners Guernsey LTD now owns 17,381,984 shares of the bank’s stock worth $921,593,000 after acquiring an additional 862,800 shares during the period. 82.93% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on BK shares. Zacks Investment Research lowered Bank Of New York Mellon from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. Citigroup reaffirmed a “neutral” rating and set a $56.00 target price (up from $53.00) on shares of Bank Of New York Mellon in a report on Monday, October 9th. Credit Suisse Group reaffirmed a “hold” rating and set a $55.00 target price on shares of Bank Of New York Mellon in a report on Tuesday, October 10th. Goldman Sachs Group reaffirmed a “buy” rating and set a $58.00 target price (up from $52.85) on shares of Bank Of New York Mellon in a report on Friday, October 20th. Finally, Morgan Stanley raised their target price on Bank Of New York Mellon from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.59.

In other news, Director Edward P. Garden sold 1,031,157 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $53.13, for a total value of $54,785,371.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas P. Gibbons sold 38,152 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $54.15, for a total value of $2,065,930.80. Following the completion of the transaction, the chief financial officer now owns 310,002 shares in the company, valued at approximately $16,786,608.30. The disclosure for this sale can be found here. Insiders have sold 7,708,334 shares of company stock worth $404,956,863 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded down $0.88 during mid-day trading on Tuesday, reaching $57.54. The company’s stock had a trading volume of 5,633,681 shares, compared to its average volume of 3,704,570. The stock has a market capitalization of $59,450.00, a P/E ratio of 16.92, a P/E/G ratio of 1.84 and a beta of 1.22. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. Bank Of New York Mellon Corporation has a 52 week low of $43.85 and a 52 week high of $58.99.

Bank Of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. Bank Of New York Mellon’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share. equities research analysts anticipate that Bank Of New York Mellon Corporation will post 3.55 EPS for the current year.

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About Bank Of New York Mellon

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

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