Meridian Wealth Management LLC reduced its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,880 shares of the bank’s stock after selling 116 shares during the period. Meridian Wealth Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $504,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake 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 during the last quarter. New England Asset Management Inc. raised its stake 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 last quarter. American Century Companies Inc. raised its stake 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 last quarter. Vanguard Group Inc. raised its stake 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 last quarter. Finally, AQR Capital Management LLC raised its stake 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 last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Bank Of New York Mellon Corporation (BK) traded up 0.46% on Friday, reaching $52.19. 5,932,583 shares of the company’s stock were exchanged. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59. The firm has a market capitalization of $53.92 billion, a price-to-earnings ratio of 15.48 and a beta of 1.15. The stock’s 50 day moving average price is $52.42 and its 200 day moving average price is $48.49.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping the Zacks’ 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 for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company earned $0.76 EPS. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts expect that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, July 28th. This is a boost 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%.

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

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A number of equities research analysts have recently weighed in on BK shares. 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 reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, July 11th. Bank of America Corporation set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research note on Friday, July 21st. Credit Suisse Group reiterated a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, April 21st. Finally, Deutsche Bank AG lifted their price target 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 research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $53.12.

In related news, Chairman Gerald L. Hassell sold 700,719 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $53.91, for a total value of $37,775,761.29. Following the completion of the transaction, the chairman now 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 link. Also, Director Trian Fund Management, L.P. sold 10,000,000 shares of the stock in a transaction dated 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. In the last ninety days, insiders sold 10,885,099 shares of company stock worth $578,623,062. Corporate 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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