As Bank New York Mellon Corp (BK) Stock Declined, First Eagle Investment Management LLC Has Decreased Position by $25.41 Million

July 11, 2018 - By Louis Casey

The Bank of New York Mellon Corporation (NYSE:BK) LogoInvestors sentiment decreased to 0.87 in 2018 Q1. Its down 0.12, from 0.99 in 2017Q4. It is negative, as 53 investors sold BK shares while 340 reduced holdings. 81 funds opened positions while 260 raised stakes. 812.17 million shares or 1.50% less from 824.52 million shares in 2017Q4 were reported. Highstreet Asset Mngmt reported 12,481 shares. Private invested 0.92% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK). Schnieders Management Limited Liability Company stated it has 23,075 shares. Moreover, Washington Tru National Bank has 0.02% invested in The Bank of New York Mellon Corporation (NYSE:BK). Amundi Pioneer Asset Mgmt holds 0.19% or 2.35 million shares. Frontier Mngmt Com holds 0% or 53,217 shares in its portfolio. Markston International Limited Liability holds 83,005 shares. Riverhead Cap Mgmt Limited Liability Company invested in 107,173 shares or 0.23% of the stock. Argent Com holds 17,591 shares or 0.26% of its portfolio. 112,000 are held by Andra Ap. Focused Wealth Mgmt stated it has 0.06% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK). Veritas Management Ltd Liability Partnership accumulated 16,387 shares. Tci Wealth Advsrs Inc, a Arizona-based fund reported 104 shares. Natixis Ltd Partnership, Massachusetts-based fund reported 152,382 shares. Horizon Kinetics Limited Liability Corp invested 0.05% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK).

Jean decreased its stake in Bank New York Mellon Corp (BK) by 2.54% based on its latest 2018Q1 regulatory filing with the SEC. First Eagle Investment Management Llc sold 498,321 shares as the company’s stock declined 2.03% with the market. The hedge fund run by Jean held 19.08 million shares of the major banks company at the end of 2018Q1, valued at $983.44M, down from 19.58 million at the end of the previous reported quarter. First Eagle Investment Management Llc who had been investing in Bank New York Mellon Corp for a number of months, seems to be less bullish one the $53.96 billion market cap company. The stock decreased 1.18% or $0.64 during the last trading session, reaching $53.39. About 4.09M shares traded. The Bank of New York Mellon Corporation (NYSE:BK) has risen 20.30% since July 11, 2017 and is uptrending. It has outperformed by 7.73% the S&P500.

First Eagle Investment Management Llc, which manages about $40.13B US Long portfolio, upped its stake in C H Robinson Worldwide Inc (NASDAQ:CHRW) by 42,487 shares to 6.45 million shares, valued at $604.41 million in 2018Q1, according to the filing. It also increased its holding in Now Inc (NYSE:DNOW) by 545,793 shares in the quarter, for a total of 8.42 million shares, and has risen its stake in Compania Cervecerias Unidas (NYSE:CCU).

Analysts await The Bank of New York Mellon Corporation (NYSE:BK) to report earnings on July, 19 before the open. They expect $1.03 EPS, up 11.96 % or $0.11 from last year’s $0.92 per share. BK’s profit will be $1.04B for 12.96 P/E if the $1.03 EPS becomes a reality. After $1.10 actual EPS reported by The Bank of New York Mellon Corporation for the previous quarter, Wall Street now forecasts -6.36 % negative EPS growth.

More notable recent The Bank of New York Mellon Corporation (NYSE:BK) news were published by: Seekingalpha.com which released: “BNY Mellon, Citizens Financial, Northern Trust, M&T Bank release capital return plans” on June 28, 2018, also Seekingalpha.com with their article: “Federal Reserve objects to Deutsche Bank USA’s capital return plan” published on June 28, 2018, Bizjournals.com published: “Morgan Stanley promotes trading chief” on July 10, 2018. More interesting news about The Bank of New York Mellon Corporation (NYSE:BK) were released by: Benzinga.com and their article: “BNY Mellon’s Lockwood Advisors Outlines Key Considerations for Investors in the Third Quarter” published on July 11, 2018 as well as Seekingalpha.com‘s news article titled: “Bank stocks likely to be more volatile on stress test results: Morgan Stanley” with publication date: June 22, 2018.

The Bank of New York Mellon Corporation (NYSE:BK) Ratings Coverage

Among 11 analysts covering Bank of New York Mellon (NYSE:BK), 4 have Buy rating, 2 Sell and 5 Hold. Therefore 36% are positive. Bank of New York Mellon had 18 analyst reports since January 19, 2018 according to SRatingsIntel. As per Monday, April 9, the company rating was maintained by Sandler O’Neill. The firm earned “Hold” rating on Thursday, January 18 by Sandler O’Neill. The stock of The Bank of New York Mellon Corporation (NYSE:BK) has “Buy” rating given on Friday, April 6 by Vining Sparks. The company was downgraded on Friday, January 19 by JP Morgan. Goldman Sachs downgraded The Bank of New York Mellon Corporation (NYSE:BK) rating on Monday, March 12. Goldman Sachs has “Hold” rating and $60.0 target. The stock of The Bank of New York Mellon Corporation (NYSE:BK) has “Hold” rating given on Thursday, April 19 by Sandler O’Neill. The rating was maintained by Keefe Bruyette & Woods with “Hold” on Thursday, April 19. The company was maintained on Tuesday, March 6 by Deutsche Bank. Deutsche Bank maintained it with “Buy” rating and $60 target in Friday, April 6 report. The rating was maintained by Jefferies with “Hold” on Thursday, April 5.

The Bank of New York Mellon Corporation (NYSE:BK) Institutional Positions Chart

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