Arizona State Retirement System increased its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 257,866 shares of the bank’s stock after buying an additional 1,000 shares during the period. Arizona State Retirement System’s holdings in Bank Of New York Mellon Corporation (The) were worth $13,156,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hudock Capital Group LLC increased its position in shares of 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 valued at $120,000 after buying an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the second quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock valued at $212,000 after buying an additional 12 shares during the last quarter. CHICAGO TRUST Co NA increased its position in shares of Bank Of New York Mellon Corporation (The) by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after buying an additional 29 shares during the last quarter. Cpcm LLC increased its position in shares of Bank Of New York Mellon Corporation (The) by 0.4% in the first quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock valued at $458,000 after buying an additional 35 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of Bank Of New York Mellon Corporation (The) by 0.7% in the first quarter. Rehmann Capital Advisory Group now owns 5,236 shares of the bank’s stock valued at $247,000 after buying an additional 36 shares during the last quarter. 82.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bank Of New York Mellon Corporation (BK) opened at 52.65 on Friday. The company has a 50 day moving average of $52.90 and a 200 day moving average of $49.04. The firm has a market cap of $54.40 billion, a PE ratio of 15.61 and a beta of 1.15. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.59.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.82%. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.40%.

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

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Several brokerages have issued reports on BK. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Jefferies Group LLC reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, July 11th. Buckingham Research reissued a “neutral” rating and set a $57.00 price objective (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 10th. Royal Bank Of Canada reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Finally, Bank of America Corporation set a $52.00 price objective on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.12.

In other news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the completion of the transaction, the insider now directly owns 455,927 shares in the company, valued at approximately $24,597,261.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gerald L. Hassell sold 1,788 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total value of $94,835.52. Following the transaction, the chairman now owns 872,606 shares of the company’s stock, valued at $46,283,022.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,931,137 shares of company stock valued at $581,058,723. Corporate insiders own 3.60% of the company’s stock.

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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