Olstein Capital Management L.P. cut its stake in Bank of New York Mellon Corp (NYSE:BK) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 125,000 shares of the bank’s stock after selling 6,888 shares during the period. Olstein Capital Management L.P.’s holdings in Bank of New York Mellon were worth $6,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of BK. Capital International Investors boosted its holdings in Bank of New York Mellon by 120.8% in the 3rd quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock valued at $1,221,846,000 after purchasing an additional 12,607,183 shares during the period. American Century Companies Inc. increased its position in shares of Bank of New York Mellon by 39.2% during the 3rd quarter. American Century Companies Inc. now owns 6,008,434 shares of the bank’s stock worth $318,567,000 after purchasing an additional 1,691,889 shares in the last quarter. PGGM Investments acquired a new stake in shares of Bank of New York Mellon during the 3rd quarter worth about $51,699,000. Canada Pension Plan Investment Board increased its position in shares of Bank of New York Mellon by 118.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,722,972 shares of the bank’s stock worth $91,352,000 after purchasing an additional 932,700 shares in the last quarter. Finally, Longview Partners Guernsey LTD increased its position in shares of Bank of New York Mellon by 5.2% during the 3rd quarter. Longview Partners Guernsey LTD now owns 17,381,984 shares of the bank’s stock worth $921,593,000 after purchasing an additional 862,800 shares in the last quarter. 83.67% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Corp (NYSE:BK) opened at $54.81 on Wednesday. Bank of New York Mellon Corp has a one year low of $45.12 and a one year high of $58.99. The firm has a market cap of $55,344.07, a P/E ratio of 14.69, a P/E/G ratio of 1.74 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.69 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 earnings per share for the quarter, hitting the consensus estimate of $0.91. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the firm earned $0.77 EPS. Bank of New York Mellon’s quarterly revenue was down 1.6% compared to the same quarter last year. analysts forecast that Bank of New York Mellon Corp will post 4.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Tuesday, January 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Monday, January 29th. Bank of New York Mellon’s payout ratio is currently 25.74%.

BK has been the subject of a number of recent analyst reports. Barclays reiterated a “buy” rating on shares of Bank of New York Mellon in a research report on Sunday, January 21st. Zacks Investment Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Wednesday, December 20th. ValuEngine upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating in a research report on Tuesday, December 5th. Citigroup upgraded shares of Bank of New York Mellon from a “neutral” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Wednesday, January 10th. Finally, Vining Sparks reiterated a “buy” rating and set a $62.00 target price on shares of Bank of New York Mellon in a research report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $56.76.

In other news, Director Edward P. Garden sold 650,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $52.60, for a total value of $34,190,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Edward P. Garden sold 143,792 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $52.52, for a total transaction of $7,551,955.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 831,944 shares of company stock worth $43,807,887. Insiders own 3.60% of the company’s stock.

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Bank of New York Mellon Profile

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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