Balyasny Asset Management LLC lowered its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 13.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,899 shares of the bank’s stock after selling 29,464 shares during the period. Balyasny Asset Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $9,740,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 4.4% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock valued at $104,000 after buying an additional 92 shares during the period. First Interstate Bank grew its stake in Bank Of New York Mellon Corporation (The) by 56.2% in the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock valued at $119,000 after purchasing an additional 842 shares during the last quarter. QCI Asset Management Inc. NY purchased a new position in Bank Of New York Mellon Corporation (The) in the first quarter valued at about $125,000. Exane Derivatives purchased a new position in Bank Of New York Mellon Corporation (The) in the second quarter valued at about $130,000. Finally, Hudock Capital Group LLC grew its stake in Bank Of New York Mellon Corporation (The) by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after purchasing an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 81.78% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at 54.43 on Friday. The firm has a market cap of $56.23 billion, a P/E ratio of 16.14 and a beta of 1.15. The company’s 50 day moving average price is $52.26 and its 200-day moving average price is $50.01. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities research analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

Bank Of New York Mellon Corporation (The) declared that its board has initiated a share repurchase program on Wednesday, June 28th that permits the company to buyback $3.10 billion in outstanding shares. This buyback authorization permits the bank to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: “Balyasny Asset Management LLC Cuts Stake in Bank Of New York Mellon Corporation (The) (BK)” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.watchlistnews.com/balyasny-asset-management-llc-cuts-stake-in-bank-of-new-york-mellon-corporation-the-bk/1612356.html.

In related news, Chairman Gerald L. Hassell sold 1,788 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $94,835.52. Following the transaction, the chairman now owns 872,606 shares in the company, valued at approximately $46,283,022.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total value of $2,340,825.00. Following the transaction, the insider now owns 204,043 shares in the company, valued at approximately $10,793,874.70. The disclosure for this sale can be found here. Insiders have sold a total of 10,931,137 shares of company stock worth $581,058,723 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

Several equities analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 target price on the stock. Zacks Investment Research lowered Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Buckingham Research reiterated a “neutral” rating and issued a $57.00 target price (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research note on Monday, July 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $56.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $54.25.

Bank Of New York Mellon Corporation (The) 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.

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

Receive News & Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.