Gateway Investment Advisers LLC decreased its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 44.7% in the first quarter, Holdings Channel reports. The fund owned 695,419 shares of the bank’s stock after selling 563,207 shares during the period. Gateway Investment Advisers LLC’s holdings in Bank of New York Mellon were worth $35,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in BK. Private Capital Group LLC increased its holdings in shares of Bank of New York Mellon by 3.6% during the 4th quarter. Private Capital Group LLC now owns 5,628 shares of the bank’s stock worth $265,000 after purchasing an additional 197 shares during the period. CWM LLC grew its stake in Bank of New York Mellon by 13.3% during the fourth quarter. CWM LLC now owns 1,728 shares of the bank’s stock worth $81,000 after buying an additional 203 shares during the last quarter. Marathon Capital Management grew its stake in Bank of New York Mellon by 1.9% during the fourth quarter. Marathon Capital Management now owns 11,040 shares of the bank’s stock worth $519,000 after buying an additional 210 shares during the last quarter. Highstreet Asset Management Inc. grew its stake in Bank of New York Mellon by 1.9% during the fourth quarter. Highstreet Asset Management Inc. now owns 11,558 shares of the bank’s stock worth $544,000 after buying an additional 216 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Bank of New York Mellon by 6.2% during the fourth quarter. Quadrant Capital Group LLC now owns 3,792 shares of the bank’s stock worth $168,000 after buying an additional 223 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Edward P. Garden sold 1,336 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $52.00, for a total value of $69,472.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Trian Fund Management, L.P. sold 2,107,000 shares of the stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $53.48, for a total transaction of $112,682,360.00. The disclosure for this sale can be found here. Insiders have sold 3,713,437 shares of company stock worth $198,594,100 over the last quarter. 1.71% of the stock is owned by company insiders.

BK has been the topic of several research analyst reports. Vining Sparks reaffirmed a “buy” rating and set a $55.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 23rd. Citigroup cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $52.00 in a research note on Wednesday, January 9th. Deutsche Bank upped their price objective on shares of Bank of New York Mellon from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Zacks Investment Research raised shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research note on Monday, January 21st. Two research 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’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.14.

Shares of BK stock traded up $0.18 during trading hours on Wednesday, reaching $51.17. 185,451 shares of the company were exchanged, compared to its average volume of 4,654,208. Bank of New York Mellon Corp has a fifty-two week low of $43.67 and a fifty-two week high of $58.22. The firm has a market capitalization of $48.94 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.46 and a beta of 1.03. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Wednesday, January 16th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.07. Bank of New York Mellon had a net margin of 22.19% and a return on equity of 11.53%. The company had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the business earned $0.91 earnings per share. Bank of New York Mellon’s quarterly revenue was up 7.5% on a year-over-year basis. On average, equities research analysts forecast that Bank of New York Mellon Corp will post 4.24 earnings per share for the current fiscal year.

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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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