Cortland Advisers LLC Has Trimmed Bank Of New York Mellon Corp/The (BK) Holding as Stock Declined

April 23, 2018 - By Adrian Erickson

The Bank of New York Mellon Corporation (NYSE:BK) LogoInvestors sentiment decreased to 0.99 in 2017 Q4. Its down 0.02, from 1.01 in 2017Q3. It dived, as 39 investors sold BK shares while 318 reduced holdings. 99 funds opened positions while 253 raised stakes. 824.52 million shares or 0.99% less from 832.75 million shares in 2017Q3 were reported. State Of Alaska Department Of Revenue has invested 0.14% in The Bank of New York Mellon Corporation (NYSE:BK). Hendley And holds 1.07% or 38,845 shares. Massmutual Trust Commerce Fsb Adv accumulated 8,188 shares or 0.02% of the stock. Victory Capital Mngmt Inc invested in 0.02% or 219,056 shares. Amica Mutual holds 41,899 shares. California State Teachers Retirement System has 1.76 million shares. Bryn Mawr Tru has invested 0.04% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK). Btim Corp holds 4,587 shares. Cetera Advsrs Limited Liability Corporation, a Colorado-based fund reported 7,441 shares. Vaughan David Il holds 407,198 shares. Alliancebernstein Ltd Partnership holds 0.07% or 1.74 million shares. David R Rahn Associate Inc holds 16,130 shares or 0.78% of its portfolio. Bluecrest Mngmt owns 10,553 shares or 0.02% of their US portfolio. Hsbc Public Limited, United Kingdom-based fund reported 1.25M shares. Longview Ptnrs (Guernsey) invested in 17.68 million shares or 4.98% of the stock.

Cortland Advisers Llc decreased its stake in Bank Of New York Mellon Corp/The (BK) by 7.41% based on its latest 2017Q4 regulatory filing with the SEC. Cortland Advisers Llc sold 234,655 shares as the company’s stock declined 6.07% with the market. The institutional investor held 2.93 million shares of the major banks company at the end of 2017Q4, valued at $157.90 million, down from 3.17 million at the end of the previous reported quarter. Cortland Advisers Llc who had been investing in Bank Of New York Mellon Corp/The for a number of months, seems to be less bullish one the $55.84 billion market cap company. The stock increased 0.33% or $0.18 during the last trading session, reaching $55.42. About 7.01 million shares traded or 37.96% up from the average. The Bank of New York Mellon Corporation (NYSE:BK) has risen 9.66% since April 23, 2017 and is uptrending. It has underperformed by 1.89% the S&P500.

Cortland Advisers Llc, which manages about $2.18B US Long portfolio, upped its stake in Northern Trust Corp (NASDAQ:NTRS) by 143,369 shares to 436,122 shares, valued at $43.56 million in 2017Q4, according to the filing.

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

Among 13 analysts covering BNY Mellon (NYSE:BK), 5 have Buy rating, 2 Sell and 6 Hold. Therefore 38% are positive. BNY Mellon has $68 highest and $5400 lowest target. $59.54’s average target is 7.43% above currents $55.42 stock price. BNY Mellon had 24 analyst reports since November 13, 2017 according to SRatingsIntel. The stock of The Bank of New York Mellon Corporation (NYSE:BK) earned “Overweight” rating by Morgan Stanley on Friday, February 2. The firm has “Hold” rating by Jefferies given on Tuesday, January 9. As per Tuesday, March 6, the company rating was maintained by Deutsche Bank. The firm earned “Hold” rating on Monday, March 12 by Goldman Sachs. Vining Sparks upgraded it to “Buy” rating and $6000 target in Friday, April 6 report. Keefe Bruyette & Woods maintained The Bank of New York Mellon Corporation (NYSE:BK) rating on Tuesday, December 12. Keefe Bruyette & Woods has “Hold” rating and $61.0 target. The firm has “Buy” rating by Deutsche Bank given on Friday, April 6. The firm has “Hold” rating given on Thursday, January 18 by Keefe Bruyette & Woods. The stock has “Hold” rating by Sandler O’Neill on Monday, April 9. J.P. Morgan downgraded The Bank of New York Mellon Corporation (NYSE:BK) on Friday, January 19 to “Sell” rating.

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

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