Modera Wealth Management LLC reduced its holdings in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 24.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,621 shares of the bank’s stock after selling 1,852 shares during the quarter. Modera Wealth Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $287,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Bank Of New York Mellon Corporation (The) by 3.0% during the 1st 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 period. BlackRock Inc. increased its position in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% during the 1st 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 period. Longview Partners Guernsey LTD increased its position in shares of Bank Of New York Mellon Corporation (The) by 4.6% during the 2nd 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 period. Geode Capital Management LLC increased its position in shares of Bank Of New York Mellon Corporation (The) by 11.6% during the 1st 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 period. Finally, JPMorgan Chase & Co. increased its position in shares of Bank Of New York Mellon Corporation (The) by 8.6% during the 1st 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 period. Hedge funds and other institutional investors own 81.80% of the company’s stock.

In other Bank Of New York Mellon Corporation (The) news, CEO Charles W. Scharf bought 186,900 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was bought at an average price of $53.82 per share, for a total transaction of $10,058,958.00. Following the transaction, the chief executive officer now owns 73,640 shares of the company’s stock, valued at approximately $3,963,304.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Gerald L. Hassell sold 700,719 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the sale, the chairman now owns 1,253,522 shares of the company’s stock, valued at approximately $67,577,371.02. The disclosure for this sale can be found here. Insiders have sold a total of 10,931,137 shares of company stock valued at $581,058,723 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Several brokerages have recently issued reports on BK. Jefferies Group LLC reiterated a “hold” rating and set a $56.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday. UBS AG cut Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price target on the stock. in a research report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Thursday, August 31st. Wells Fargo & Company began coverage on Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price target on the stock. Finally, 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Bank Of New York Mellon Corporation (The) currently has an average rating of “Hold” and an average target price of $53.82.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 51.56 on Friday. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The company has a 50 day moving average price of $52.43 and a 200-day moving average price of $49.53. The firm has a market capitalization of $53.27 billion, a PE ratio of 15.29 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the consensus estimate of $0.84 by $0.04. The company had revenue of $3.96 billion during 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 revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. On average, equities analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

Bank Of New York Mellon Corporation (The) announced that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $3.10 billion in shares. This repurchase authorization permits the bank to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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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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