Fox Run Management L.L.C. bought a new position 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 bought 8,400 shares of the bank’s stock, valued at approximately $429,000.

A number of other large investors also recently 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 first 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 last quarter. New England Asset Management Inc. boosted its position 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 buying an additional 3,689,000 shares during the period. American Century Companies Inc. boosted its position 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 buying an additional 2,173,699 shares during the period. Vanguard Group Inc. boosted its position 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 buying an additional 1,905,810 shares during the period. Finally, AQR Capital Management LLC boosted its position 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 buying an additional 1,399,039 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Bank Of New York Mellon Corporation (BK) traded down 0.361% on Monday, hitting $53.825. 555,483 shares of the stock were exchanged. The company has a market cap of $55.61 billion, a P/E ratio of 15.962 and a beta of 1.15. The company’s 50 day moving average price is $51.59 and its 200-day moving average price is $48.09. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59.

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, beating the 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 company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Equities research analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

Bank Of New York Mellon Corporation (The) declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, July 28th. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is 28.40%.

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A number of research analysts have weighed in on the stock. BidaskClub cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, April 11th. Buckingham Research reaffirmed a “neutral” rating and set a $57.00 price target (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 10th. Rafferty Capital Markets reaffirmed a “buy” rating and set a $53.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, April 25th. Finally, Bank of America Corporation set a $49.00 price target on shares of Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Saturday, May 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $53.00.

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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