Stephens Inc. AR increased its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,063 shares of the bank’s stock after purchasing an additional 1,561 shares during the quarter. Stephens Inc. AR’s holdings in Bank Of New York Mellon Corporation (The) were worth $4,391,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its holdings 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 acquiring an additional 55,073,730 shares during the last quarter. New England Asset Management Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 92,225.0% in the first quarter. New England Asset Management Inc. now owns 3,693,000 shares of the bank’s stock worth $174,420,000 after acquiring an additional 3,689,000 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 135.6% in the first quarter. American Century Companies Inc. now owns 3,776,619 shares of the bank’s stock worth $178,370,000 after acquiring an additional 2,173,699 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 acquiring an additional 1,905,810 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 82.1% in the first quarter. AQR Capital Management LLC now owns 3,102,607 shares of the bank’s stock worth $146,536,000 after acquiring an additional 1,399,039 shares during the last quarter. 81.78% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. Jefferies Group LLC reissued a “hold” rating and issued a $56.00 price target on shares of Bank Of New York Mellon Corporation (The) in a 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 for the company. in a report on Friday, September 8th. Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Thursday, August 31st. Wells Fargo & Company assumed coverage on Bank Of New York Mellon Corporation (The) in a report on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 price target for the company. Finally, BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $53.82.

Shares of Bank Of New York Mellon Corporation (BK) opened at 51.70 on Tuesday. The stock has a market cap of $53.41 billion, a P/E ratio of 15.33 and a beta of 1.14. The firm’s 50-day moving average price is $52.40 and its 200-day moving average price is $49.59. 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 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 return on equity of 10.35% and a net margin of 23.35%. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company earned $0.76 earnings per share. Bank Of New York Mellon Corporation (The)’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities research analysts forecast 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) declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Brian T. Shea sold 44,250 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the transaction, the insider now directly owns 204,043 shares in the company, valued at $10,793,874.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Gerald L. Hassell sold 1,788 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were 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 in the company, valued at $46,283,022.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,931,137 shares of company stock valued at $581,058,723. 3.60% of the stock is owned by corporate insiders.

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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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