Trillium Asset Management LLC grew its stake in Bank of New York Mellon Corp (NYSE:BK) by 2.9% in the first quarter, Holdings Channel reports. The fund owned 366,718 shares of the bank’s stock after acquiring an additional 10,231 shares during the period. Trillium Asset Management LLC’s holdings in Bank of New York Mellon were worth $18,494,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BK. Pacer Advisors Inc. acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at approximately $3,708,000. Lindbrook Capital LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $80,000. Hudson Capital Management LLC grew its position in shares of Bank of New York Mellon by 10.1% in the 4th quarter. Hudson Capital Management LLC now owns 11,494 shares of the bank’s stock valued at $541,000 after purchasing an additional 1,053 shares during the period. Stralem & Co. Inc. grew its position in shares of Bank of New York Mellon by 0.5% in the 1st quarter. Stralem & Co. Inc. now owns 102,330 shares of the bank’s stock valued at $5,161,000 after purchasing an additional 485 shares during the period. Finally, LPL Financial LLC grew its position in shares of Bank of New York Mellon by 5.0% in the 4th quarter. LPL Financial LLC now owns 87,998 shares of the bank’s stock valued at $4,142,000 after purchasing an additional 4,187 shares during the period. 87.88% of the stock is owned by institutional investors.

Several equities analysts recently issued reports on the company. ValuEngine upgraded Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Zacks Investment Research lowered Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Buckingham Research decreased their price objective on Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada decreased their price objective on Bank of New York Mellon to $52.00 and set a “positive” rating for the company in a research report on Thursday, April 18th. Finally, Deutsche Bank upped their price target on Bank of New York Mellon from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.75.

NYSE:BK traded down $0.77 during trading hours on Wednesday, reaching $46.24. 38,731 shares of the stock were exchanged, compared to its average volume of 5,759,078. Bank of New York Mellon Corp has a twelve month low of $43.67 and a twelve month high of $58.22. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.84. The company has a market cap of $45.15 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.41 and a beta of 1.01.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the company earned $1.10 EPS. The company’s revenue was down 6.7% compared to the same quarter last year. As a group, analysts anticipate that Bank of New York Mellon Corp will post 4.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Monday, April 29th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Friday, April 26th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.60%.

In other news, VP Bridget E. Engle sold 22,670 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $52.99, for a total value of $1,201,283.30. Following the completion of the sale, the vice president now owns 92,150 shares of the company’s stock, valued at approximately $4,883,028.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Trian Fund Management, L.P. sold 621,807 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $50.11, for a total value of $31,158,748.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 853,244 shares of company stock valued at $43,210,239. Insiders own 1.71% of the company’s stock.

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Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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

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