Cenovus Energy (CVE) Holder Scheer Rowlett & Associates Investment Management LTD Has Decreased Stake by $7.65 Million as Market Value Declined; Bank New York Mellon (BK) Stock Price Declined While Amf Pensionsforsakring Ab Trimmed Stake by $10.66 Million

February 14, 2018 - By wolcottdaily

Amf Pensionsforsakring Ab decreased its stake in Bank New York Mellon Corp (BK) by 13.12% based on its latest 2017Q3 regulatory filing with the SEC. Amf Pensionsforsakring Ab sold 201,161 shares as the company’s stock declined 1.27% while stock markets rallied. The institutional investor held 1.33 million shares of the major banks company at the end of 2017Q3, valued at $70.60 million, down from 1.53M at the end of the previous reported quarter. Amf Pensionsforsakring Ab who had been investing in Bank New York Mellon Corp for a number of months, seems to be less bullish one the $56.17 billion market cap company. The stock increased 1.11% or $0.61 during the last trading session, reaching $55.42. About 1.02M shares traded. The Bank of New York Mellon Corporation (NYSE:BK) has risen 13.98% since February 14, 2017 and is uptrending. It has underperformed by 2.72% the S&P500.

Scheer Rowlett & Associates Investment Management Ltd decreased its stake in Cenovus Energy Inc. (CVE) by 15.28% based on its latest 2017Q3 regulatory filing with the SEC. Scheer Rowlett & Associates Investment Management Ltd sold 765,328 shares as the company’s stock declined 29.14% while stock markets rallied. The institutional investor held 4.24 million shares of the oil & gas production company at the end of 2017Q3, valued at $42.46M, down from 5.01M at the end of the previous reported quarter. Scheer Rowlett & Associates Investment Management Ltd who had been investing in Cenovus Energy Inc. for a number of months, seems to be less bullish one the $9.17B market cap company. The stock increased 0.13% or $0.01 during the last trading session, reaching $7.53. About 2.42M shares traded. Cenovus Energy Inc. (NYSE:CVE) has declined 34.01% since February 14, 2017 and is downtrending. It has underperformed by 50.71% the S&P500.

Investors sentiment increased to 1.01 in Q3 2017. Its up 0.12, from 0.89 in 2017Q2. It increased, as 34 investors sold BK shares while 306 reduced holdings. 90 funds opened positions while 254 raised stakes. 832.75 million shares or 0.16% more from 831.44 million shares in 2017Q2 were reported. Highvista Strategies Ltd Liability Corporation has invested 0.78% in The Bank of New York Mellon Corporation (NYSE:BK). Creative Planning invested in 0.02% or 67,069 shares. Panagora Asset Management holds 0.17% or 817,487 shares. Clifford Swan Inv Counsel Ltd Liability Company invested 1.3% in The Bank of New York Mellon Corporation (NYSE:BK). California Public Employees Retirement System reported 0.23% in The Bank of New York Mellon Corporation (NYSE:BK). Hightower Advisors Llc has 0.07% invested in The Bank of New York Mellon Corporation (NYSE:BK) for 161,106 shares. Wallington Asset Mgmt Limited Liability Co invested 1.84% in The Bank of New York Mellon Corporation (NYSE:BK). Lodestar Invest Counsel Limited Liability Company Il holds 0.06% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK) for 9,325 shares. Edge Wealth Mgmt Ltd Company reported 0.02% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK). Srb accumulated 3,372 shares or 0.02% of the stock. Schwab Charles accumulated 3.48M shares. Blair William & Com Il reported 33,003 shares or 0.01% of all its holdings. Moreover, Canada Pension Plan Investment Board has 0.19% invested in The Bank of New York Mellon Corporation (NYSE:BK) for 1.72M shares. Gemmer Asset Management Ltd Liability Co accumulated 707 shares. 64,500 are held by Louisiana State Employees Retirement Systems.

Among 25 analysts covering The Bank Of New York Mellon Corporation (NYSE:BK), 12 have Buy rating, 3 Sell and 10 Hold. Therefore 48% are positive. The Bank Of New York Mellon Corporation had 74 analyst reports since July 22, 2015 according to SRatingsIntel. Standpoint Research maintained the stock with “Hold” rating in Sunday, August 9 report. The firm has “Hold” rating given on Friday, October 6 by RBC Capital Markets. The firm has “Hold” rating given on Wednesday, April 5 by RBC Capital Markets. The stock of The Bank of New York Mellon Corporation (NYSE:BK) earned “Hold” rating by Jefferies on Monday, July 11. On Friday, July 21 the stock rating was maintained by Deutsche Bank with “Buy”. The rating was maintained by Deutsche Bank on Thursday, June 16 with “Buy”. The stock of The Bank of New York Mellon Corporation (NYSE:BK) earned “Buy” rating by Bank of America on Thursday, September 17. The firm has “Overweight” rating by JP Morgan given on Thursday, January 7. The rating was maintained by Morgan Stanley on Friday, February 2 with “Overweight”. The rating was maintained by Jefferies with “Hold” on Thursday, October 19.

Amf Pensionsforsakring Ab, which manages about $9.14 billion US Long portfolio, upped its stake in Waste Mgmt Inc Del (NYSE:WM) by 152,808 shares to 641,277 shares, valued at $50.19 million in 2017Q3, according to the filing. It also increased its holding in United Rentals Inc (NYSE:URI) by 50,099 shares in the quarter, for a total of 186,882 shares, and has risen its stake in Corning Inc (NYSE:GLW).

Analysts await Cenovus Energy Inc. (NYSE:CVE) to report earnings on February, 15. They expect $0.05 EPS, down 82.76% or $0.24 from last year’s $0.29 per share. CVE’s profit will be $60.88 million for 37.65 P/E if the $0.05 EPS becomes a reality. After $0.18 actual EPS reported by Cenovus Energy Inc. for the previous quarter, Wall Street now forecasts -72.22% negative EPS growth.

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