Westchester Capital Management Inc. decreased its position in shares of Bank Of New York Mellon Corp. (NYSE:BK) by 6.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 191,793 shares of the company’s stock after selling 13,600 shares during the period. Bank Of New York Mellon Corp. comprises 3.7% of Westchester Capital Management Inc.’s holdings, making the stock its 15th largest position. Westchester Capital Management Inc.’s holdings in Bank Of New York Mellon Corp. were worth $7,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BK. Roble Belko & Company Inc raised its stake in Bank Of New York Mellon Corp. by 25.1% in the third quarter. Roble Belko & Company Inc now owns 2,502 shares of the company’s stock worth $100,000 after buying an additional 502 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bank Of New York Mellon Corp. during the second quarter worth about $101,000. Hudock Capital Group LLC raised its stake in Bank Of New York Mellon Corp. by 0.3% in the third quarter. Hudock Capital Group LLC now owns 2,534 shares of the company’s stock worth $101,000 after buying an additional 7 shares in the last quarter. Advisory Services Network LLC raised its stake in Bank Of New York Mellon Corp. by 6.9% in the third quarter. Advisory Services Network LLC now owns 2,669 shares of the company’s stock worth $106,000 after buying an additional 173 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC raised its stake in Bank Of New York Mellon Corp. by 5,546.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,823 shares of the company’s stock worth $110,000 after buying an additional 2,773 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Bank Of New York Mellon Corp. (NYSE:BK)

Bank Of New York Mellon Corp. (NYSE:BK) traded up 0.83% during midday trading on Wednesday, reaching $47.44. 2,911,277 shares of the company traded hands. Bank Of New York Mellon Corp. has a 12-month low of $32.20 and a 12-month high of $47.96. The company has a 50-day moving average price of $43.95 and a 200-day moving average price of $41.14. The company has a market cap of $50.16 billion, a price-to-earnings ratio of 16.05 and a beta of 1.30.

Bank Of New York Mellon Corp. (NYSE:BK) last announced its earnings results on Thursday, October 20th. The company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.09. The company earned $3.93 billion during the quarter, compared to the consensus estimate of $3.86 billion. Bank Of New York Mellon Corp. had a net margin of 21.65% and a return on equity of 9.66%. Bank Of New York Mellon Corp.’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. On average, analysts predict that Bank Of New York Mellon Corp. will post $3.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Tuesday, November 1st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, October 28th. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. Bank Of New York Mellon Corp.’s payout ratio is currently 25.68%.

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A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $54.00 price target (up previously from $50.00) on shares of Bank Of New York Mellon Corp. in a research note on Wednesday. Barclays PLC restated a “buy” rating and issued a $48.00 price target on shares of Bank Of New York Mellon Corp. in a research note on Wednesday, November 9th. Deutsche Bank AG lifted their price target on shares of Bank Of New York Mellon Corp. from $46.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Credit Suisse Group AG set a $42.00 price target on shares of Bank Of New York Mellon Corp. and gave the stock a “hold” rating in a research note on Tuesday, August 9th. Finally, Morgan Stanley upgraded shares of Bank Of New York Mellon Corp. from an “underweight” rating to an “equal weight” rating in a research note on Friday, October 21st. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $46.43.

In other news, Vice Chairman Thomas P. Gibbons sold 79,022 shares of Bank Of New York Mellon Corp. stock in a transaction on Monday, October 24th. The shares were sold at an average price of $43.20, for a total transaction of $3,413,750.40. Following the completion of the sale, the insider now directly owns 439,610 shares in the company, valued at $18,991,152. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerald L. Hassell sold 191,042 shares of Bank Of New York Mellon Corp. stock in a transaction on Monday, October 24th. The stock was sold at an average price of $43.22, for a total transaction of $8,256,835.24. Following the sale, the chief executive officer now owns 1,003,176 shares of the company’s stock, valued at $43,357,266.72. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Bank Of New York Mellon Corp. Company Profile

The Bank of New York Mellon Corporation (BNY 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 credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

5 Day Chart for NYSE:BK

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