Bank Of New York Mellon Corporation (The) (BK) Position Lessened by Fmr LLC

FMR LLC cut its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 17.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 857,405 shares of the bank’s stock after selling 180,139 shares during the period. FMR LLC owned 0.08% of Bank Of New York Mellon Corporation (The) worth $43,744,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ingalls & Snyder LLC increased its position in Bank Of New York Mellon Corporation (The) by 0.9% during the first quarter. Ingalls & Snyder LLC now owns 9,899 shares of the bank’s stock valued at $468,000 after acquiring an additional 85 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Bank Of New York Mellon Corporation (The) by 72.7% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 209,714 shares of the bank’s stock worth $9,905,000 after buying an additional 88,302 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Bank Of New York Mellon Corporation (The) by 7.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 241,092 shares of the bank’s stock worth $11,386,000 after buying an additional 17,113 shares in the last quarter. Tiedemann Wealth Management LLC bought a new position in shares of Bank Of New York Mellon Corporation (The) in the first quarter worth about $433,000. Finally, First National Trust Co. bought a new position in shares of Bank Of New York Mellon Corporation (The) in the first quarter worth about $298,000. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

BK has been the subject of several analyst reports. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, October 20th. Morgan Stanley increased their price target on Bank Of New York Mellon Corporation (The) from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $58.00 price target (up from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, October 20th. Zacks Investment Research downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $55.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Bank Of New York Mellon Corporation (The) has an average rating of “Hold” and an average price target of $55.28.

Bank Of New York Mellon Corporation (BK) opened at 52.22 on Friday. Bank Of New York Mellon Corporation has a 12-month low of $42.73 and a 12-month high of $55.29. The company has a 50-day moving average price of $52.87 and a 200-day moving average price of $50.74. The firm has a market capitalization of $53.95 billion, a PE ratio of 15.49 and a beta of 1.15.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, October 30th. Bank Of New York Mellon Corporation (The)’s payout ratio is currently 28.07%.

In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 1,788 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total transaction of $94,835.52. Following the completion of the transaction, the chairman now directly owns 872,606 shares of the company’s stock, valued at approximately $46,283,022.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward P. Garden sold 1,031,157 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $53.13, for a total transaction of $54,785,371.41. The disclosure for this sale can be found here. Insiders sold a total of 17,761,019 shares of company stock valued at $939,813,259 in the last three months. Insiders own 3.60% of the company’s stock.

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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.

Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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