Minneapolis Portfolio Management Group Lowers stake in Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp (BK) : Minneapolis Portfolio Management Group reduced its stake in Bank of New York Mellon Corp by 4.85% during the most recent quarter end. The investment management company now holds a total of 641,615 shares of Bank of New York Mellon Corp which is valued at $25,164,140 after selling 32,707 shares in Bank of New York Mellon Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Bank of New York Mellon Corp makes up approximately 4.32% of Minneapolis Portfolio Management Group’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Trust Co Fsbmo boosted its stake in BK in the latest quarter, The investment management firm added 611 additional shares and now holds a total of 43,029 shares of Bank of New York Mellon Corp which is valued at $1,686,307. Bank of New York Mellon Corp makes up approx 0.02% of Tiaa Cref Trust Co Fsbmo’s portfolio.Loeb Partners Corp reduced its stake in BK by selling 604 shares or 0.57% in the most recent quarter. The Hedge Fund company now holds 106,000 shares of BK which is valued at $4,154,140. Bank of New York Mellon Corp makes up approx 1.35% of Loeb Partners Corp’s portfolio.Neville Rodie Shaw Inc reduced its stake in BK by selling 1,567 shares or 3.62% in the most recent quarter. The Hedge Fund company now holds 41,704 shares of BK which is valued at $1,643,555. Bank of New York Mellon Corp makes up approx 0.19% of Neville Rodie Shaw Inc’s portfolio.

Bank of New York Mellon Corp closed down -0.28 points or -0.71% at $38.94 with 55,17,109 shares getting traded on Thursday. Post opening the session at $39.14, the shares hit an intraday low of $38.825 and an intraday high of $39.28 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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