Public Sector Pension Investment Board Has Trimmed By $1.91 Million Its Bank New York Mellon (BK) Position; Hartford Financial Services Group (HIG)’s Sentiment Is 0.91

September 14, 2018 - By Joe Cepeda

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

Public Sector Pension Investment Board decreased Bank New York Mellon Corp (BK) stake by 38.96% reported in 2018Q2 SEC filing. Public Sector Pension Investment Board sold 36,000 shares as Bank New York Mellon Corp (BK)’s stock declined 9.26%. The Public Sector Pension Investment Board holds 56,409 shares with $3.04M value, down from 92,409 last quarter. Bank New York Mellon Corp now has $51.63 billion valuation. The stock increased 0.81% or $0.415 during the last trading session, reaching $51.635. About 2.33M shares traded. The Bank of New York Mellon Corporation (NYSE:BK) has risen 0.04% since September 14, 2017 and is uptrending. It has underperformed by 15.58% the S&P500. Some Historical BK News: 07/03/2018 – Commercial Obs: J. Crew Hones in on BNY Mellon’s HQ at Brookfield Place; 19/04/2018 – UNITED COMPANY RUSAL – IN ONGOING DISCUSSIONS WITH EURONEXT PARIS SA AND BANK OF NEW YORK MELLON TO PROTECT INTERESTS OF ITS SECURITIES HOLDERS; 12/03/2018 – 38LA: Bank of New York Mellon: FRN Variable Rate Fix; 09/04/2018 – 12YQ: Bank of New York Mellon: FRN Variable Rate Fix; 11/05/2018 – 96FT: Bank of New York Mellon: FRN Variable Rate Fix; 05/03/2018 – BANK OF NEW YORK MELLON CORP BK.N : DEUTSCHE BANK RAISES TARGET PRICE TO $65 FROM $64; 28/03/2018 – 88DG: Bank of New York Mellon: FRN Variable Rate Fix; 08/03/2018 – 84RI: Bank of New York Mellon: FRN Variable Rate Fix; 12/03/2018 – 62BZ: Bank of New York Mellon: FRN Variable Rate Fix; 14/03/2018 – ETFs not to blame for market turbulence, says BNY Mellon

Hartford Financial Services Group Inc (HIG) investors sentiment increased to 0.91 in Q2 2018. It’s up 0.20, from 0.71 in 2018Q1. The ratio is more positive, as 212 active investment managers started new and increased equity positions, while 233 sold and decreased stock positions in Hartford Financial Services Group Inc. The active investment managers in our database now possess: 308.43 million shares, up from 306.29 million shares in 2018Q1. Also, the number of active investment managers holding Hartford Financial Services Group Inc in top ten equity positions was flat from 7 to 7 for the same number . Sold All: 39 Reduced: 194 Increased: 161 New Position: 51.

Since January 1, 0001, it had 0 buys, and 9 selling transactions for $5.74 million activity.

More recent The Hartford Financial Services Group, Inc. (NYSE:HIG) news were published by: Seekingalpha.com which released: “Wall Street Breakfast: Big Display At Apple Product Event” on September 12, 2018. Also Seekingalpha.com published the news titled: “Hartford Financial Services’ (HIG) CEO Chris Swift on Acquisition of The Navigators Group – Call Transcript” on August 22, 2018. Benzinga.com‘s news article titled: “Trading Hurricane Florence: Investors Make Storm Stock Picks” with publication date: September 11, 2018 was also an interesting one.

Analysts await The Hartford Financial Services Group, Inc. (NYSE:HIG) to report earnings on October, 22. They expect $1.11 earnings per share, up 85.00% or $0.51 from last year’s $0.6 per share. HIG’s profit will be $397.84 million for 11.20 P/E if the $1.11 EPS becomes a reality. After $1.13 actual earnings per share reported by The Hartford Financial Services Group, Inc. for the previous quarter, Wall Street now forecasts -1.77% negative EPS growth.

The Hartford Financial Services Group, Inc., through its subsidiaries, provides insurance and financial services to individual and business clients in the United States. The company has market cap of $17.82 billion. It operates through six divisions: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, Mutual Funds, and Talcott Resolution. It currently has negative earnings. The Commercial Lines segment offers workersÂ’ compensation, property, automobile, marine, livestock, liability, and umbrella insurance products, as well as customized insurance services and products, including professional liability, bond, and specialty casualty coverages.

The stock increased 0.71% or $0.35 during the last trading session, reaching $49.71. About 1.08 million shares traded. The Hartford Financial Services Group, Inc. (HIG) has declined 9.08% since September 14, 2017 and is downtrending. It has underperformed by 24.70% the S&P500. Some Historical HIG News: 28/03/2018 – MOODY’S CONTINUES REVIEW OF TALCOTT’S RATINGS FOR DOWNGRADE; 13/03/2018 – HARTFORD FINL EXPECTS TO ENTER AMENDMENT TO CREDIT AGREEMENT; 26/04/2018 – HARTFORD FINANCIAL SERVICES GROUP INC QTRLY EARNED PREMIUMS $3,927 MLN VS $3,438 MLN; 13/03/2018 – HARTFORD FINANCIAL SERVICES – EXPECTED AMENDMENT ON OR ABOUT MARCH END WILL ALSO AUTOMATICALLY REPLACE CREDIT AGREEMENT WITH AN AMENDED, RESTATED ONE; 26/04/2018 – The Hartford Book Value/Share $36.06 at Quarter’s End; 26/04/2018 – HARTFORD FINANCIAL 1Q CORE EPS $1.27, EST. $1.07; 26/04/2018 – Hartford Financial 1Q Adj EPS $1.27; 26/04/2018 – Hartford Financial 1Q Net $597M; 09/03/2018 Hartford Financial Closes Above 200-Day Moving Average; 26/04/2018 – Hartford Financial 1Q EPS $1.64

Capital Returns Management Llc holds 9.13% of its portfolio in The Hartford Financial Services Group, Inc. for 527,773 shares. Rr Partners Lp owns 2.09 million shares or 8.09% of their US portfolio. Moreover, New Vernon Investment Management Llc has 6.8% invested in the company for 116,598 shares. The Connecticut-based Benin Management Corp has invested 3.98% in the stock. York Capital Management Global Advisors Llc, a New York-based fund reported 2.93 million shares.

Public Sector Pension Investment Board increased Alibaba Group Hldg Ltd (Put) (NYSE:BABA) stake by 200,000 shares to 1.20M valued at $222.64M in 2018Q2. It also upped Dxc Technology Co stake by 15,400 shares and now owns 120,255 shares. Hcp Inc (NYSE:HCP) was raised too.

Among 7 analysts covering Bank of New York Mellon (NYSE:BK), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. Bank of New York Mellon had 8 analyst reports since April 6, 2018 according to SRatingsIntel. The rating was maintained by Sandler O’Neill on Monday, April 9 with “Hold”. The rating was maintained by Credit Suisse with “Neutral” on Friday, April 20. The firm has “Overweight” rating given on Friday, April 20 by Morgan Stanley. Sandler O’Neill maintained the shares of BK in report on Thursday, April 19 with “Hold” rating. The firm earned “Hold” rating on Thursday, April 5 by Jefferies. The firm has “Hold” rating by Keefe Bruyette & Woods given on Thursday, April 19. The firm has “Buy” rating given on Friday, April 6 by Deutsche Bank. The stock of The Bank of New York Mellon Corporation (NYSE:BK) has “Buy” rating given on Friday, April 6 by Vining Sparks.

Analysts await The Bank of New York Mellon Corporation (NYSE:BK) to report earnings on October, 18. They expect $1.04 EPS, up 6.12% or $0.06 from last year’s $0.98 per share. BK’s profit will be $1.04B for 12.41 P/E if the $1.04 EPS becomes a reality. After $1.03 actual EPS reported by The Bank of New York Mellon Corporation for the previous quarter, Wall Street now forecasts 0.97% EPS growth.

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

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