Korea Investment CORP decreased its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 34.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,201 shares of the bank’s stock after selling 305,973 shares during the period. Korea Investment CORP owned about 0.06% of Bank Of New York Mellon Corporation (The) worth $30,061,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in BK. Bronfman E.L. Rothschild L.P. increased its stake in Bank Of New York Mellon Corporation (The) by 4.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after buying an additional 92 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $111,000. Exane Derivatives acquired a new stake in Bank Of New York Mellon Corporation (The) during the second quarter worth approximately $130,000. Hudock Capital Group LLC increased its stake in Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock worth $120,000 after buying an additional 7 shares in the last quarter. Finally, QCI Asset Management Inc. NY acquired a new stake in Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $125,000. 82.02% of the stock is currently owned by institutional investors.

Shares of Bank Of New York Mellon Corporation (BK) opened at 52.19 on Tuesday. The stock has a market cap of $53.92 billion, a P/E ratio of 15.48 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. The firm’s 50-day moving average price is $52.82 and its 200 day moving average price is $48.88.

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

Bank Of New York Mellon Corporation (The) declared that its board has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $3.10 billion in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were given a $0.24 dividend. The ex-dividend date 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 annualized dividend and a yield of 1.84%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is 28.40%.

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A number of equities research analysts have commented on the company. Wells Fargo & Company assumed coverage on Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 target price on the stock. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Bank of America Corporation set a $52.00 target price on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Friday, July 21st. Finally, Deutsche Bank AG lifted their target price on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $53.12.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $53.95, for a total value of $9,947,301.00. Following the transaction, the insider now directly owns 455,927 shares of the company’s stock, valued at $24,597,261.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total value of $2,340,825.00. Following the completion of the transaction, the insider now directly owns 204,043 shares in the company, valued at $10,793,874.70. The disclosure for this sale can be found here. Insiders sold 10,931,137 shares of company stock worth $581,058,723 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

About Bank Of New York Mellon Corporation (The)

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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