Heritage Investors Management Corp lowered its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,220 shares of the bank’s stock after selling 130 shares during the period. Heritage Investors Management Corp’s holdings in Bank Of New York Mellon Corporation (The) were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised 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 in the last quarter. BlackRock Inc. raised its position 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 buying an additional 55,073,730 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 11.6% in the first quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock worth $491,122,000 after buying an additional 1,085,595 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Bank Of New York Mellon Corporation (The) by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock worth $463,187,000 after buying an additional 780,125 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 0.5% in the first quarter. Clearbridge Investments LLC now owns 9,518,101 shares of the bank’s stock worth $449,540,000 after buying an additional 51,390 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of New York Mellon Corporation (BK) traded down 0.22% during mid-day trading on Wednesday, hitting $53.67. The company had a trading volume of 1,422,091 shares. The company has a market cap of $55.45 billion, a PE ratio of 15.92 and a beta of 1.15. The company’s 50 day moving average price is $51.95 and its 200-day moving average price is $48.21. 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 issued its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. Equities research analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

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

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

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A number of research analysts recently weighed in on BK shares. Rafferty Capital Markets reaffirmed a “buy” rating and set a $53.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 25th. Bank of America Corporation reissued an “underperform” rating and issued a $49.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, May 26th. BidaskClub lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Deutsche Bank AG upped their target price on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $53.00.

In related news, Chairman Gerald L. Hassell sold 700,719 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Monday, August 7th. The stock was sold at an average price of $53.91, for a total value of $37,775,761.29. Following the transaction, the chairman now directly owns 1,253,522 shares in the company, valued at approximately $67,577,371.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles W. Scharf bought 186,900 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now directly owns 73,640 shares in the company, valued at $3,963,304.80. The disclosure for this purchase can be found here. Insiders own 3.60% of the company’s stock.

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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