Exxonmobil Investment Management Inc. TX cut its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 13.3% during the second quarter, Holdings Channel reports. The firm owned 199,655 shares of the bank’s stock after selling 30,728 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Bank Of New York Mellon Corporation (The) were worth $10,186,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. boosted its position 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 period. Advisory Services Network LLC bought a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $111,000. Hudock Capital Group LLC boosted its position in shares of 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 worth $120,000 after buying an additional 7 shares during the last quarter. QCI Asset Management Inc. NY bought a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $125,000. Finally, Harfst & Associates Inc. bought a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $170,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.46% during midday trading on Friday, reaching $52.19. The company had a trading volume of 5,932,583 shares. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The stock’s 50 day moving average is $52.42 and its 200 day moving average is $48.49. The company has a market capitalization of $53.92 billion, a PE ratio of 15.48 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings data 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 net margin of 23.35% and a return on equity of 10.35%. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the previous year, the business earned $0.76 earnings per share. The company’s revenue was up .4% on a year-over-year basis. Equities research analysts forecast 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 stock repurchase plan on Wednesday, June 28th that permits the company to buyback $3.10 billion in shares. This buyback authorization permits the bank to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were given a dividend of $0.24 per share. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a yield of 1.84%. The ex-dividend date was Friday, July 28th. Bank Of New York Mellon Corporation (The)’s payout ratio is currently 28.40%.

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A number of equities analysts have recently issued reports on the company. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Buckingham Research reissued a “neutral” rating and issued a $57.00 target price (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. 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. Finally, Bank of America Corporation set a $52.00 target price on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.12.

In other news, CEO Charles W. Scharf acquired 186,900 shares of the stock in a transaction on Tuesday, August 8th. The stock was acquired at an average cost of $53.82 per share, for a total transaction of $10,058,958.00. Following the completion of the transaction, the chief executive officer now directly owns 73,640 shares in the company, valued at $3,963,304.80. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Trian Fund Management, L.P. sold 10,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total transaction of $530,900,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,885,099 shares of company stock valued at $578,623,062. Company insiders own 3.60% of the company’s stock.

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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