Intact Investment Management Inc. held its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,900 shares of the bank’s stock at the end of the second quarter. Intact Investment Management Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 1,905,810 shares during the last quarter. BlackRock Inc. lifted its stake in 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 purchasing an additional 55,073,730 shares during the last quarter. Longview Partners Guernsey LTD lifted its stake in 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 purchasing an additional 726,898 shares during the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 1,085,595 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 purchasing an additional 780,125 shares during the last quarter. 81.80% of the stock is owned by institutional investors.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 51.99 on Wednesday. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59. The company has a market cap of $53.71 billion, a PE ratio of 15.42 and a beta of 1.14. The company has a 50-day moving average price of $52.63 and a 200-day moving average price of $49.44.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.84 by $0.04. The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. On average, 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) announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $3.10 billion in outstanding shares. This buyback authorization allows the bank to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

In other news, Vice Chairman Brian T. Shea sold 44,250 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the sale, the insider now directly owns 204,043 shares in the company, valued at approximately $10,793,874.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gerald L. Hassell sold 1,788 shares of the company’s stock in a transaction dated 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 owns 872,606 shares in the company, valued at $46,283,022.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,931,137 shares of company stock worth $581,058,723. Corporate insiders own 3.60% of the company’s stock.

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BK has been the topic of several research analyst reports. Royal Bank Of Canada reiterated a “hold” rating and issued a $58.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Thursday, August 31st. UBS AG downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research note on Friday, September 8th. Bank of America Corporation reiterated 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 downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG upped their price objective on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Bank Of New York Mellon Corporation (The) currently has a consensus rating of “Hold” and an average target price of $53.59.

Bank Of New York Mellon Corporation (The) 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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