Cambridge Trust Co. lessened its holdings in Bank of New York Mellon Corp (NYSE:BK) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,431 shares of the bank’s stock after selling 525 shares during the quarter. Cambridge Trust Co.’s holdings in Bank of New York Mellon were worth $274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Private Capital Group LLC increased its holdings in Bank of New York Mellon by 3.6% during the fourth quarter. Private Capital Group LLC now owns 5,628 shares of the bank’s stock worth $265,000 after buying an additional 197 shares during the last quarter. CWM LLC increased its holdings in shares of Bank of New York Mellon by 13.3% in the fourth quarter. CWM LLC now owns 1,728 shares of the bank’s stock valued at $81,000 after purchasing an additional 203 shares during the last quarter. Marathon Capital Management increased its holdings in shares of Bank of New York Mellon by 1.9% in the fourth quarter. Marathon Capital Management now owns 11,040 shares of the bank’s stock valued at $519,000 after purchasing an additional 210 shares during the last quarter. Highstreet Asset Management Inc. increased its holdings in shares of Bank of New York Mellon by 1.9% in the fourth quarter. Highstreet Asset Management Inc. now owns 11,558 shares of the bank’s stock valued at $544,000 after purchasing an additional 216 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Bank of New York Mellon by 6.2% in the fourth quarter. Quadrant Capital Group LLC now owns 3,792 shares of the bank’s stock valued at $168,000 after purchasing an additional 223 shares during the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.

In related news, Director Edward P. Garden sold 171,960 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $52.28, for a total transaction of $8,990,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Trian Fund Management, L.P. sold 2,107,000 shares of the company’s stock in a transaction dated Monday, January 28th. The stock was 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 sold 3,713,437 shares of company stock worth $198,594,100 over the last 90 days. 1.71% of the stock is currently owned by corporate insiders.

BK stock opened at $48.47 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.68. Bank of New York Mellon Corp has a 52 week low of $43.67 and a 52 week high of $58.22. The stock has a market capitalization of $46.25 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.42 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Wednesday, April 17th. The bank reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.02). Bank of New York Mellon had a net margin of 20.69% and a return on equity of 10.98%. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the company posted $1.10 earnings per share. The company’s revenue was down 6.7% on a year-over-year basis. On average, analysts predict that Bank of New York Mellon Corp will post 4.14 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Monday, April 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $1.12 annualized dividend and a dividend yield of 2.31%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 26.60%.

Several research firms have commented on BK. Zacks Investment Research downgraded shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Tuesday. Buckingham Research decreased their price objective on shares of Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada decreased their price objective on shares of Bank of New York Mellon to $52.00 and set a “positive” rating on the stock in a report on Thursday, April 18th. ValuEngine downgraded shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Finally, Deutsche Bank upped their price objective on shares of Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a report on Friday, March 15th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $53.75.

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Bank of New York Mellon Company 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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