Smith Asset Management Group LP lowered its stake in Bank Of New York Mellon Corp. (NYSE:BK) by 1.8% during the second quarter, Holdings Channel reports. The institutional investor owned 538,500 shares of the company’s stock after selling 10,008 shares during the period. Smith Asset Management Group LP’s holdings in Bank Of New York Mellon Corp. were worth $20,821,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BK. Integrated Investment Consultants LLC increased its position in Bank Of New York Mellon Corp. by 11.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,912 shares of the company’s stock worth $113,000 after buying an additional 308 shares during the period. Barnett & Company Inc. acquired a new position in Bank Of New York Mellon Corp. during the first quarter worth $124,000. Kistler Tiffany Companies LLC increased its position in Bank Of New York Mellon Corp. by 5.5% in the second quarter. Kistler Tiffany Companies LLC now owns 4,103 shares of the company’s stock worth $159,000 after buying an additional 213 shares during the period. Hall Laurie J Trustee increased its position in Bank Of New York Mellon Corp. by 6.2% in the second quarter. Hall Laurie J Trustee now owns 4,795 shares of the company’s stock worth $185,000 after buying an additional 280 shares during the period. Finally, North Star Investment Management Corp. increased its position in Bank Of New York Mellon Corp. by 2.8% in the second quarter. North Star Investment Management Corp. now owns 5,207 shares of the company’s stock worth $202,000 after buying an additional 140 shares during the period. 82.82% of the stock is owned by institutional investors.

Shares of Bank Of New York Mellon Corp. (NYSE:BK) traded up 0.85% during mid-day trading on Wednesday, reaching $40.52. 4,393,043 shares of the company’s stock traded hands. The company has a market cap of $43.26 billion, a P/E ratio of 14.53 and a beta of 1.37. Bank Of New York Mellon Corp. has a 12-month low of $32.20 and a 12-month high of $44.73. The firm has a 50-day moving average of $40.56 and a 200 day moving average of $39.56.

Bank Of New York Mellon Corp. (NYSE:BK) last posted its earnings results on Thursday, July 21st. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. Bank Of New York Mellon Corp. had a net margin of 20.86% and a return on equity of 9.31%. The firm earned $3.78 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business posted $0.73 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. Equities analysts forecast that Bank Of New York Mellon Corp. will post $3.03 EPS for the current year.

A number of brokerages have commented on BK. Barclays PLC reiterated a “buy” rating on shares of Bank Of New York Mellon Corp. in a research note on Saturday, July 9th. Deutsche Bank AG reiterated a “buy” rating on shares of Bank Of New York Mellon Corp. in a research note on Sunday, July 10th. Argus reiterated a “hold” rating on shares of Bank Of New York Mellon Corp. in a research note on Friday, July 22nd. Credit Suisse Group AG reiterated a “hold” rating on shares of Bank Of New York Mellon Corp. in a research note on Tuesday, June 28th. Finally, Zacks Investment Research cut shares of Bank Of New York Mellon Corp. from a “hold” rating to a “sell” rating in a research note on Monday, June 27th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $44.88.

In other news, Director Trian Fund Management, L.P. bought 152,000 shares of Bank Of New York Mellon Corp. stock in a transaction dated Friday, July 22nd. The stock was purchased at an average price of $38.87 per share, for a total transaction of $5,908,240.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.40% of the stock is currently owned by insiders.

About Bank Of New York Mellon Corp.

The Bank of New York Mellon Corporation (BNY Mellon) 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 credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

5 Day Chart for NYSE:BK

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