LSV Asset Management Buys 563,700 Shares of Bank of New York Mellon Corp (BK)
LSV Asset Management grew its stake in shares of Bank of New York Mellon Corp (NYSE:BK) by 95.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,152,445 shares of the bank’s stock after buying an additional 563,700 shares during the period. LSV Asset Management’s holdings in Bank of New York Mellon were worth $62,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Clinton Group Inc. bought a new position in shares of Bank of New York Mellon in the second quarter worth $287,000. Janus Henderson Group PLC increased its holdings in shares of Bank of New York Mellon by 433.6% in the second quarter. Janus Henderson Group PLC now owns 711,345 shares of the bank’s stock worth $36,293,000 after purchasing an additional 578,034 shares during the period. BlueCrest Capital Management Ltd bought a new position in shares of Bank of New York Mellon in the second quarter worth $1,259,000. Green Square Capital LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth $317,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Bank of New York Mellon by 22.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 66,956 shares of the bank’s stock worth $3,416,000 after purchasing an additional 12,104 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.
In other news, CFO Thomas P. Gibbons sold 38,152 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the transaction, the chief financial officer now directly owns 310,002 shares of the company’s stock, valued at $16,786,608.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward P. Garden sold 650,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.60, for a total value of $34,190,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 831,944 shares of company stock worth $43,807,887. 3.60% of the stock is owned by insiders.
Bank of New York Mellon Corp (BK) opened at $56.33 on Monday. The company has a market capitalization of $57,087.19, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.79 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.69. Bank of New York Mellon Corp has a 12 month low of $44.91 and a 12 month high of $58.99.
Bank of New York Mellon (NYSE:BK) last released its earnings results on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.91. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $4.01 billion. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. equities analysts forecast that Bank of New York Mellon Corp will post 4.06 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Tuesday, January 30th will be paid a $0.24 dividend. The ex-dividend date is Monday, January 29th. This represents a $0.96 dividend on an annualized basis and a yield of 1.70%. Bank of New York Mellon’s dividend payout ratio is presently 25.74%.
ILLEGAL ACTIVITY NOTICE: This news story was originally published by Watch List News and is the property of of Watch List News. If you are reading this news story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The correct version of this news story can be viewed at https://www.watchlistnews.com/lsv-asset-management-buys-563700-shares-of-bank-of-new-york-mellon-corp-bk/1845852.html.
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.
Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corp (NYSE:BK).
Receive News & Ratings for Bank of New York Mellon 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 and related companies with MarketBeat.com's FREE daily email newsletter.