Municipal Employees Retirement System of Michigan cut its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,120 shares of the bank’s stock after selling 7,450 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. New York State Common Retirement Fund grew its position in Bank Of New York Mellon Corporation (The) by 0.4% during the 3rd quarter. New York State Common Retirement Fund now owns 3,207,590 shares of the bank’s stock worth $170,066,000 after acquiring an additional 11,600 shares during the last quarter. Archon Partners LLC bought a new stake in Bank Of New York Mellon Corporation (The) during the 3rd quarter worth approximately $9,703,000. First Eagle Investment Management LLC grew its position in Bank Of New York Mellon Corporation (The) by 1.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 19,753,288 shares of the bank’s stock worth $1,047,319,000 after acquiring an additional 271,858 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its position in Bank Of New York Mellon Corporation (The) by 110.6% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 105,236 shares of the bank’s stock worth $5,596,000 after acquiring an additional 55,256 shares during the last quarter. Finally, Sei Investments Co. grew its position in Bank Of New York Mellon Corporation (The) by 7.4% during the 3rd quarter. Sei Investments Co. now owns 1,020,622 shares of the bank’s stock worth $54,102,000 after acquiring an additional 70,619 shares during the last quarter. Institutional investors and hedge funds own 82.73% of the company’s stock.

In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 24,280 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total value of $1,255,033.20. Following the sale, the chairman now owns 857,899 shares of the company’s stock, valued at approximately $44,344,799.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Brian T. Shea sold 22,228 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $51.26, for a total value of $1,139,407.28. Following the completion of the sale, the insider now directly owns 181,815 shares in the company, valued at approximately $9,319,836.90. The disclosure for this sale can be found here. Insiders have sold a total of 6,920,640 shares of company stock worth $363,489,801 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Shares of Bank Of New York Mellon Corporation (NYSE BK) traded up $0.09 during trading on Tuesday, reaching $51.02. The company had a trading volume of 3,058,000 shares, compared to its average volume of 4,560,679. The firm has a market cap of $52,153.44, a P/E ratio of 14.68, a PEG ratio of 1.92 and a beta of 1.22. Bank Of New York Mellon Corporation has a twelve month low of $43.85 and a twelve month high of $55.29. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.69.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. equities research analysts predict that Bank Of New York Mellon Corporation will post 3.54 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Tuesday, October 31st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon Corporation (The)’s payout ratio is presently 28.07%.

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A number of research firms recently commented on BK. Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Bank of America Corporation set a $52.00 price objective on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Friday, July 21st. BidaskClub lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. UBS AG lowered 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 report on Friday, September 8th. Finally, Wells Fargo & Company initiated coverage on Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Bank Of New York Mellon Corporation (The) presently has a consensus rating of “Hold” and an average price target of $55.28.

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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