MetLife Investment Advisors LLC Lowers Position in Bank of New York Mellon Corp (BK)

MetLife Investment Advisors LLC trimmed its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 10.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 267,624 shares of the bank’s stock after selling 29,895 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $13,646,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ronna Sue Cohen increased its stake in Bank of New York Mellon by 924.7% during the 3rd quarter. Ronna Sue Cohen now owns 41,398 shares of the bank’s stock worth $2,111,000 after purchasing an additional 37,358 shares in the last quarter. Country Trust Bank increased its stake in Bank of New York Mellon by 10.9% during the 2nd quarter. Country Trust Bank now owns 582,489 shares of the bank’s stock worth $31,414,000 after purchasing an additional 57,346 shares in the last quarter. Natixis increased its stake in Bank of New York Mellon by 32.0% during the 2nd quarter. Natixis now owns 896,438 shares of the bank’s stock worth $48,345,000 after purchasing an additional 217,260 shares in the last quarter. Spinnaker Trust bought a new stake in Bank of New York Mellon during the 3rd quarter worth approximately $262,000. Finally, First Fiduciary Investment Counsel Inc. increased its stake in Bank of New York Mellon by 3.1% during the 3rd quarter. First Fiduciary Investment Counsel Inc. now owns 442,392 shares of the bank’s stock worth $22,558,000 after purchasing an additional 13,155 shares in the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

BK has been the subject of a number of recent research reports. Citigroup reduced their price target on Bank of New York Mellon from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Vining Sparks reaffirmed a “buy” rating and set a $62.00 price target on shares of Bank of New York Mellon in a research report on Tuesday, October 9th. Deutsche Bank upped their price target on Bank of New York Mellon from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Zacks Investment Research downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, ValuEngine raised Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $57.41.

NYSE:BK opened at $48.67 on Friday. Bank of New York Mellon Corp has a twelve month low of $45.16 and a twelve month high of $58.99. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $48.12 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.51 and a beta of 1.04.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Thursday, October 18th. The bank reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.02. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.15 billion. Bank of New York Mellon had a return on equity of 11.48% and a net margin of 24.92%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, sell-side analysts forecast that Bank of New York Mellon Corp will post 4.16 earnings per share for the current fiscal year.

Bank of New York Mellon announced that its board has approved a stock repurchase plan on Monday, December 10th that authorizes the company to repurchase $830.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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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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