Natixis Advisors L.P. reduced its stake in Bank of New York Mellon Corp (NYSE:BK) by 30.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,871 shares of the bank’s stock after selling 57,647 shares during the period. Natixis Advisors L.P.’s holdings in Bank of New York Mellon were worth $5,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Horizon Investments LLC acquired a new position in Bank of New York Mellon in the first quarter valued at about $287,000. USS Investment Management Ltd acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $8,878,000. Hanson McClain Inc. boosted its position in shares of Bank of New York Mellon by 58.6% in the 1st quarter. Hanson McClain Inc. now owns 2,223 shares of the bank’s stock valued at $112,000 after purchasing an additional 821 shares during the period. Cypress Capital Management LLC boosted its position in shares of Bank of New York Mellon by 2.0% in the 1st quarter. Cypress Capital Management LLC now owns 186,760 shares of the bank’s stock valued at $9,418,000 after purchasing an additional 3,575 shares during the period. Finally, Hikari Power Ltd grew its stake in Bank of New York Mellon by 5.6% during the 2nd quarter. Hikari Power Ltd now owns 316,990 shares of the bank’s stock worth $13,995,000 after buying an additional 16,830 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

In related news, Vice Chairman William M. Daley acquired 11,350 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $44.93 per share, for a total transaction of $509,955.50. Following the transaction, the insider now directly owns 5,700 shares of the company’s stock, valued at approximately $256,101. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Thomas P. Gibbons sold 318,556 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $46.72, for a total value of $14,882,936.32. Following the transaction, the insider now directly owns 539,052 shares in the company, valued at approximately $25,184,509.44. The disclosure for this sale can be found here. 1.71% of the stock is owned by corporate insiders.

BK has been the topic of several research reports. UBS Group lowered their price objective on shares of Bank of New York Mellon from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Buckingham Research reduced their target price on Bank of New York Mellon from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. JPMorgan Chase & Co. decreased their target price on shares of Bank of New York Mellon from $50.00 to $49.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 9th. Morgan Stanley set a $41.00 price target on shares of Bank of New York Mellon and gave the stock a “sell” rating in a research note on Friday, August 9th. Finally, Zacks Investment Research upgraded shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a report on Monday, May 20th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $49.73.

Shares of NYSE BK traded up $0.17 during trading on Wednesday, hitting $45.95. 1,527,786 shares of the company traded hands, compared to its average volume of 3,705,678. Bank of New York Mellon Corp has a 1 year low of $40.52 and a 1 year high of $54.27. The company has a 50-day moving average price of $44.00 and a 200-day moving average price of $46.86. The firm has a market capitalization of $42.87 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.40 and a beta of 1.11. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.79.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, July 17th. The bank reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.07. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Bank of New York Mellon had a net margin of 19.93% and a return on equity of 10.74%. The company’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. Research analysts predict that Bank of New York Mellon Corp will post 3.93 EPS for the current fiscal year.

Bank of New York Mellon declared that its board has initiated a share repurchase plan on Thursday, June 27th that allows the company to buyback $3.94 billion in outstanding shares. This buyback authorization allows the bank to repurchase up to 9.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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