Axa boosted its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 53.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 693,718 shares of the bank’s stock after buying an additional 241,233 shares during the quarter. Axa owned approximately 0.07% of Bank Of New York Mellon Corporation (The) worth $35,393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Northstar Wealth Partners LLC acquired a new position in Bank Of New York Mellon Corporation (The) during the 1st quarter valued at about $546,000. MUFG Americas Holdings Corp boosted its stake in Bank Of New York Mellon Corporation (The) by 5.3% during the 2nd quarter. MUFG Americas Holdings Corp now owns 263,993 shares of the bank’s stock valued at $13,469,000 after purchasing an additional 13,228 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Bank Of New York Mellon Corporation (The) during the 2nd quarter valued at about $304,000. Community Bank & Trust Waco Texas boosted its stake in Bank Of New York Mellon Corporation (The) by 5.3% during the 1st quarter. Community Bank & Trust Waco Texas now owns 17,182 shares of the bank’s stock valued at $812,000 after purchasing an additional 863 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Bank Of New York Mellon Corporation (The) by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock valued at $3,133,681,000 after purchasing an additional 1,905,810 shares during the last quarter. 81.80% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 51.56 on Friday. The company has a 50-day moving average of $52.43 and a 200-day moving average of $49.53. The company has a market capitalization of $53.27 billion, a P/E ratio of 15.29 and a beta of 1.14. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-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 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.04. The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 EPS. Equities analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

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

A number of research firms have issued reports on BK. UBS AG downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a research note on Friday, September 8th. Wells Fargo & Company initiated coverage on Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 target price on the stock. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Bank of America Corporation set a $49.00 target price on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research note on Saturday, May 27th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $58.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $53.59.

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In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the transaction, the insider now owns 455,927 shares in the company, valued at approximately $24,597,261.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles W. Scharf purchased 186,900 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $53.82 per share, for a total transaction of $10,058,958.00. Following the purchase, the chief executive officer now directly owns 73,640 shares in the company, valued at approximately $3,963,304.80. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 10,931,137 shares of company stock valued at $581,058,723. 3.60% of the stock is currently owned by company insiders.

Bank Of New York Mellon Corporation (The) 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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