Marcato Capital Management Lp Lowers stake in Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp (BK) : Marcato Capital Management Lp reduced its stake in Bank of New York Mellon Corp by 42.77% during the most recent quarter end. The investment management company now holds a total of 10,545,107 shares of Bank of New York Mellon Corp which is valued at $418,957,101 after selling 7,881,951 shares in Bank of New York Mellon Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Bank of New York Mellon Corp makes up approximately 30.12% of Marcato Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Legg Mason Asset Management (japan) Ltd. added BK to its portfolio by purchasing 26,400 company shares during the most recent quarter which is valued at $1,048,872. Bank of New York Mellon Corp makes up approx 1.07% of Legg Mason Asset Management (japan) Ltd.’s portfolio.National Pension Service boosted its stake in BK in the latest quarter, The investment management firm added 62,142 additional shares and now holds a total of 685,074 shares of Bank of New York Mellon Corp which is valued at $27,217,990. Bank of New York Mellon Corp makes up approx 0.23% of National Pension Service’s portfolio.Amica Pension Fund Board Of Trustees reduced its stake in BK by selling 38,761 shares or 48.34% in the most recent quarter. The Hedge Fund company now holds 41,429 shares of BK which is valued at $1,624,845. Bank of New York Mellon Corp makes up approx 0.21% of Amica Pension Fund Board Of Trustees’s portfolio.Leavell Investment Management boosted its stake in BK in the latest quarter, The investment management firm added 1,300 additional shares and now holds a total of 12,965 shares of Bank of New York Mellon Corp which is valued at $518,730. Bank of New York Mellon Corp makes up approx 0.07% of Leavell Investment Management’s portfolio.

Bank of New York Mellon Corp closed down -0.2 points or -0.48% at $41.47 with 33,57,138 shares getting traded on Thursday. Post opening the session at $41.8, the shares hit an intraday low of $41.09 and an intraday high of $42.02 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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.

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