World Asset Management Inc reduced its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 12.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,864 shares of the bank’s stock after selling 12,988 shares during the period. World Asset Management Inc’s holdings in Bank Of New York Mellon Corporation (The) were worth $4,789,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 3.0% in the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock valued at $3,133,681,000 after buying an additional 1,905,810 shares during the last quarter. BlackRock Inc. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% in the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after buying an additional 55,073,730 shares during the last quarter. Longview Partners Guernsey LTD increased its stake in shares of Bank Of New York Mellon Corporation (The) by 4.6% in the second quarter. Longview Partners Guernsey LTD now owns 16,519,184 shares of the bank’s stock valued at $842,809,000 after buying an additional 726,898 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Bank Of New York Mellon Corporation (The) by 11.6% in the first quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock valued at $491,122,000 after buying an additional 1,085,595 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock valued at $463,187,000 after buying an additional 780,125 shares during the last quarter. 82.02% of the stock is owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (NYSE BK) opened at 52.10 on Monday. The company’s 50-day moving average is $52.79 and its 200 day moving average is $48.77. The stock has a market capitalization of $53.83 billion, a price-to-earnings ratio of 15.45 and a beta of 1.15. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.84 by $0.04. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. Equities analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, July 28th. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is 28.40%.

Bank Of New York Mellon Corporation (The) announced that its board has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $3.10 billion in outstanding shares. This buyback authorization allows the bank to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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BK has been the subject of several analyst reports. Rafferty Capital Markets reissued a “buy” rating and issued a $53.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Bank of America Corporation reissued an “underperform” rating and issued a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. BidaskClub lowered shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Deutsche Bank AG raised their target price on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $53.12.

In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 1,788 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total transaction of $94,835.52. Following the sale, the chairman now directly owns 872,606 shares in the company, valued at approximately $46,283,022.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the sale, the insider now owns 204,043 shares in the company, valued at $10,793,874.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,931,137 shares of company stock worth $581,058,723. 3.60% of the stock is owned by company insiders.

Bank Of New York Mellon Corporation (The) Company Profile

The Bank of New York Mellon Corporation 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.

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Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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