ING Groep NV lowered its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 53,572 shares of the bank’s stock after selling 504 shares during the period. ING Groep NV’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,733,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BK. Bronfman E.L. Rothschild L.P. raised its position in shares of Bank Of New York Mellon Corporation (The) by 4.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after buying an additional 92 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $111,000. Hudock Capital Group LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock worth $120,000 after buying an additional 7 shares during the last quarter. QCI Asset Management Inc. NY purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $125,000. Finally, Exane Derivatives purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the second quarter worth approximately $130,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Bank Of New York Mellon Corporation (BK) traded up 0.46% during mid-day trading on Friday, hitting $52.19. The company had a trading volume of 5,932,583 shares. The company’s 50 day moving average price is $52.42 and its 200-day moving average price is $48.49. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59. The firm has a market capitalization of $53.92 billion, a PE ratio of 15.48 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates 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 for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. On average, analysts forecast 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 stock buyback program on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in shares. This buyback authorization authorizes the bank to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were paid a $0.24 dividend. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.96 annualized dividend and a yield of 1.84%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is 28.40%.

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BK has been the topic of a number of recent research reports. Rafferty Capital Markets reiterated a “buy” rating and issued a $53.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, April 25th. Bank of America Corporation reiterated an “underperform” rating and issued a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, May 26th. BidaskClub lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Deutsche Bank AG increased their price objective on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $53.12.

In other news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total transaction of $530,900,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles W. Scharf purchased 186,900 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average price of $53.82 per share, with a total value of $10,058,958.00. Following the purchase, the chief executive officer now owns 73,640 shares in the company, valued at $3,963,304.80. The disclosure for this purchase can be found here. In the last quarter, insiders sold 10,885,099 shares of company stock valued at $578,623,062. Company insiders own 3.60% of the company’s stock.

About Bank Of New York Mellon Corporation (The)

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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