Acadian Asset Management LLC decreased its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 89.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,582 shares of the bank’s stock after selling 466,629 shares during the period. Acadian Asset Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BK. Bronfman E.L. Rothschild L.P. raised its stake in Bank Of New York Mellon Corporation (The) by 4.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock valued at $104,000 after buying an additional 92 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Bank Of New York Mellon Corporation (The) during the first quarter valued at $111,000. Hudock Capital Group LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock valued at $120,000 after buying an additional 7 shares during the last quarter. QCI Asset Management Inc. NY purchased a new stake in Bank Of New York Mellon Corporation (The) during the first quarter valued at $125,000. Finally, Exane Derivatives purchased a new stake in Bank Of New York Mellon Corporation (The) during the second quarter valued at $130,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Bank Of New York Mellon Corporation (BK) traded up 0.934% during mid-day trading on Friday, reaching $52.435. 3,302,347 shares of the company’s stock were exchanged. Bank Of New York Mellon Corporation has a 12 month low of $38.68 and a 12 month high of $54.59. The stock has a 50-day moving average of $52.35 and a 200-day moving average of $48.43. The firm has a market cap of $54.17 billion, a price-to-earnings ratio of 15.550 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the firm earned $0.76 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. Analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current year.

Bank Of New York Mellon Corporation (The) declared that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to buyback $3.10 billion in outstanding shares. This buyback authorization permits the bank to purchase up to 5.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be given a dividend of $0.24 per share. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.40%.

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BK has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Bank of America Corporation set a $52.00 price objective on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. Credit Suisse Group reaffirmed a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, April 21st. Finally, Deutsche Bank AG raised their price objective on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.12.

In other news, CEO Charles W. Scharf purchased 186,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average cost of $53.82 per share, with a total value of $10,058,958.00. Following the completion of the transaction, the chief executive officer now directly owns 73,640 shares of the company’s stock, valued at $3,963,304.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gerald L. Hassell sold 700,719 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the transaction, the chairman now directly owns 1,253,522 shares in the company, valued at $67,577,371.02. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

About Bank Of New York Mellon Corporation (The)

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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