State of Wisconsin Investment Board boosted its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 16.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,375,354 shares of the bank’s stock after buying an additional 195,840 shares during the period. State of Wisconsin Investment Board owned about 0.13% of Bank Of New York Mellon Corporation (The) worth $70,171,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BK. Vanguard Group Inc. raised its position 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 worth $3,133,681,000 after buying an additional 1,905,810 shares during the last quarter. BlackRock Inc. raised 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 worth $2,727,121,000 after buying an additional 55,073,730 shares in the last quarter. Longview Partners Guernsey LTD raised 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 worth $842,809,000 after buying an additional 726,898 shares in the last quarter. Geode Capital Management LLC raised 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 worth $491,122,000 after buying an additional 1,085,595 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 worth $463,187,000 after buying an additional 780,125 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at 52.09 on Wednesday. The stock has a market capitalization of $53.82 billion, a PE ratio of 15.45 and a beta of 1.15. The stock’s 50 day moving average is $52.90 and its 200 day moving average is $49.04. Bank Of New York Mellon Corporation has a 12 month low of $38.68 and a 12 month high of $54.59.

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

Bank Of New York Mellon Corporation (The) announced that its board has initiated a stock buyback program 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 programs are usually a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were given a $0.24 dividend. The ex-dividend date was Friday, July 28th. This is a boost from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a dividend yield of 1.84%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is currently 28.40%.

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BK has been the subject of a number of research reports. Jefferies Group LLC reiterated a “hold” rating and set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday, May 17th. Bank of America Corporation reiterated an “underperform” rating and set a $49.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research lowered shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, Buckingham Research reiterated a “neutral” rating and set a $57.00 target price (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research note on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.12.

In related news, Vice Chairman Brian T. Shea sold 44,250 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 204,043 shares of the company’s stock, valued at $10,793,874.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles W. Scharf bought 186,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average cost of $53.82 per share, for a total transaction of $10,058,958.00. Following the completion of the transaction, the chief executive officer now directly owns 73,640 shares of the company’s stock, valued at approximately $3,963,304.80. The disclosure for this purchase can be found here. Insiders sold 10,931,137 shares of company stock worth $581,058,723 over the last three months. Corporate insiders own 3.60% of the company’s stock.

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.

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

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