Investment Centers of America Inc. decreased its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 37.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,455 shares of the bank’s stock after selling 5,617 shares during the period. Investment Centers of America Inc.’s holdings in Bank Of New York Mellon were worth $501,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Bank Of New York Mellon by 1.6% in the second quarter. Vanguard Group Inc. now owns 67,420,467 shares of the bank’s stock worth $3,439,792,000 after buying an additional 1,071,088 shares during the last quarter. Berkshire Hathaway Inc. increased its stake in shares of Bank Of New York Mellon by 52.2% in the second quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock worth $2,562,715,000 after purchasing an additional 17,217,529 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Bank Of New York Mellon by 1.4% in the third quarter. First Eagle Investment Management LLC now owns 19,753,288 shares of the bank’s stock worth $1,047,319,000 after purchasing an additional 271,858 shares during the period. Longview Partners Guernsey LTD increased its stake in shares of Bank Of New York Mellon by 5.2% in the third quarter. Longview Partners Guernsey LTD now owns 17,381,984 shares of the bank’s stock worth $921,593,000 after purchasing an additional 862,800 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Bank Of New York Mellon by 5.9% in the second quarter. Ameriprise Financial Inc. now owns 15,129,897 shares of the bank’s stock worth $771,927,000 after purchasing an additional 838,301 shares during the period. 82.85% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total value of $303,969,164.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Brian T. Shea sold 22,228 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $51.26, for a total value of $1,139,407.28. Following the completion of the transaction, the insider now directly owns 181,815 shares in the company, valued at $9,319,836.90. The disclosure for this sale can be found here. Insiders sold a total of 7,670,182 shares of company stock worth $402,890,932 over the last three months. 3.60% of the stock is owned by company insiders.

Bank Of New York Mellon Corporation (BK) traded up $0.33 during midday trading on Friday, reaching $54.74. The company’s stock had a trading volume of 7,684,400 shares, compared to its average volume of 4,586,180. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $56,220.00, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. Bank Of New York Mellon Corporation has a 12 month low of $43.85 and a 12 month high of $55.29.

Bank Of New York Mellon (NYSE:BK) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. equities analysts expect that Bank Of New York Mellon Corporation will post 3.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Monday, October 30th. Bank Of New York Mellon’s payout ratio is 28.24%.

BK has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated a “hold” rating and issued a $58.00 price objective on shares of Bank Of New York Mellon in a research note on Wednesday, November 15th. Credit Suisse Group reiterated a “hold” rating and issued a $55.00 price objective on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Morgan Stanley lifted their price objective on Bank Of New York Mellon from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Jefferies Group reiterated a “hold” rating and issued a $56.00 price objective on shares of Bank Of New York Mellon in a research note on Friday, September 15th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $58.00 price objective (up from $52.85) on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Bank Of New York Mellon currently has an average rating of “Hold” and an average target price of $55.28.

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Bank Of New York Mellon 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 (NYSE:BK)

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