Trian Fund Reduces Bank of New York Mellon Stake ~ market folly

Wednesday, October 25, 2017

Trian Fund Reduces Bank of New York Mellon Stake

Nelson Peltz's Trian Fund Management has filed a Form 4 with the SEC regarding its stake in Bank of New York Mellon (BK).  Per the filing, Trian sold over 5.7 million shares across October 20th, 23rd, and 24th.

They exited shares at weighted average prices of around $53.13, but the bulk of their sale came at $52.22.  After these sales, Trian is left owning 16.56 million shares.

The filing notes that they sold for portfolio management purposes as one of the lock-up periods ended on one of their investment funds which solely held BK shares.

We also recently posted about another stock Trian was selling.

Per Google Finance, Bank of New York Mellon is "an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits. As of December 31, 2016, the Company had $29.9 trillion in assets under custody and/or administration and $1.6 trillion in assets under management. The Company's Investment Management boutiques offer a range of actively managed equity, fixed income, alternative and liability-driven investments, along with passive products and cash management. The Company offers asset servicing, clearing services, issuer services and treasury services to its clients."

blog comments powered by Disqus