Optimum Investment Advisors held its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 12,930 shares of the bank’s stock at the end of the second quarter. Optimum Investment Advisors’ holdings in Bank Of New York Mellon Corporation (The) were worth $660,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BK. BlackRock Inc. increased its stake in Bank Of New York Mellon Corporation (The) by 2,064.6% in the 1st 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 during the period. New England Asset Management Inc. lifted its holdings in Bank Of New York Mellon Corporation (The) by 92,225.0% during the 1st quarter. New England Asset Management Inc. now owns 3,693,000 shares of the bank’s stock valued at $174,420,000 after buying an additional 3,689,000 shares in the last quarter. Vanguard Group Inc. lifted its holdings in 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 buying an additional 1,905,810 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Bank Of New York Mellon Corporation (The) by 82.1% during the 1st quarter. AQR Capital Management LLC now owns 3,102,607 shares of the bank’s stock valued at $146,536,000 after buying an additional 1,399,039 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in Bank Of New York Mellon Corporation (The) during the 1st quarter valued at about $53,408,000. 81.78% of the stock is currently owned by hedge funds and other institutional investors.

In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 700,719 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $53.91, for a total value of $37,775,761.29. Following the sale, the chairman now directly owns 1,253,522 shares of the company’s stock, valued at approximately $67,577,371.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 204,043 shares in the company, valued at $10,793,874.70. The disclosure for this sale can be found here. Insiders sold 10,931,137 shares of company stock valued at $581,058,723 in the last quarter. 3.60% of the stock is owned by insiders.

Shares of Bank Of New York Mellon Corporation (BK) traded up 0.311% during midday trading on Monday, reaching $53.185. The company had a trading volume of 549,440 shares. The company has a market capitalization of $54.95 billion, a P/E ratio of 15.773 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. The company’s 50 day moving average price is $52.37 and its 200-day moving average price is $49.62.

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 for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.76 earnings per share. On average, equities research analysts predict 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 of Directors has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $3.10 billion in shares. This buyback authorization permits the bank to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

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Several equities research analysts have issued reports on BK shares. Zacks Investment Research cut shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research report on Thursday, September 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $56.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, September 15th. UBS AG lowered shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $58.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Thursday, August 31st. Finally, Wells Fargo & Company began coverage on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price target for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Bank Of New York Mellon Corporation (The) has an average rating of “Hold” and an average target price of $54.25.

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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