Cacti Asset Management Lowers stake in Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp (BK) : Cacti Asset Management reduced its stake in Bank of New York Mellon Corp by 5.8% during the most recent quarter end. The investment management company now holds a total of 698,715 shares of Bank of New York Mellon Corp which is valued at $28,528,533 after selling 43,000 shares in Bank of New York Mellon Corp , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Bank of New York Mellon Corp makes up approximately 2.90% of Cacti Asset Management’s portfolio.

Other Hedge Funds, Including , Beacon Financial Group boosted its stake in BK in the latest quarter, The investment management firm added 1,648 additional shares and now holds a total of 80,655 shares of Bank of New York Mellon Corp which is valued at $3,293,144. Bank of New York Mellon Corp makes up approx 0.69% of Beacon Financial Group’s portfolio.

Bank of New York Mellon Corp opened for trading at $39.83 and hit $40.4 on the upside on Tuesday, eventually ending the session at $40.2, with a gain of 1.28% or 0.51 points. The heightened volatility saw the trading volume jump to 65,33,324 shares. Company has a market cap of $42,921 M.

On the company’s financial health, Bank of New York Mellon Corp reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.75. The company had revenue of $3776.00 million for the quarter, compared to analysts expectations of $3795.74 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.73 EPS.

The Bank of New York Mellon Corporation is a provider of financial products and services in domestic and international markets. Through its two principal businesses Investment Management and Investment Services it serves institutions corporations and high net worth individuals. For institutions and corporations it provides investment management trust and custody foreign exchange fund administration global collateral services securities lending depositary receipts corporate trust global payment/cash management banking services and clearing services. For individuals it provides mutual funds separate accounts wealth management and private banking services. BNY Mellon’s investment management businesses provide investment products in different asset classes and investment styles. The Company has $28.5 trillion in assets under custody and/or administration and $1.7 trillion in assets under management as of December 31 2014.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Bank of New York Mellon Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Bank of New York Mellon Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.