Zurich Insurance Group Ltd FI increased its holdings in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 13.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 165,203 shares of the bank’s stock after acquiring an additional 19,967 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Bank Of New York Mellon Corporation (The) were worth $8,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in BK. Crawford Investment Counsel Inc. lifted its stake in Bank Of New York Mellon Corporation (The) by 1.9% in the first quarter. Crawford Investment Counsel Inc. now owns 9,834 shares of the bank’s stock worth $464,000 after acquiring an additional 183 shares during the period. Carnick & Kubik Group LLC lifted its stake in Bank Of New York Mellon Corporation (The) by 157.4% in the first quarter. Carnick & Kubik Group LLC now owns 45,263 shares of the bank’s stock worth $2,138,000 after acquiring an additional 27,680 shares during the period. World Asset Management Inc lifted its stake in Bank Of New York Mellon Corporation (The) by 7.7% in the first quarter. World Asset Management Inc now owns 106,852 shares of the bank’s stock worth $5,047,000 after acquiring an additional 7,615 shares during the period. UBS Asset Management Americas Inc. lifted its stake in Bank Of New York Mellon Corporation (The) by 3.5% in the first quarter. UBS Asset Management Americas Inc. now owns 3,394,419 shares of the bank’s stock worth $160,318,000 after acquiring an additional 116,027 shares during the period. Finally, British Columbia Investment Management Corp lifted its position in Bank Of New York Mellon Corporation (The) by 17.6% during the first quarter. British Columbia Investment Management Corp now owns 753,677 shares of the bank’s stock valued at $35,596,000 after buying an additional 112,986 shares during the period. 81.78% of the stock is owned by institutional investors.

Bank Of New York Mellon Corporation (NYSE BK) traded up 0.02% during trading on Friday, hitting $53.02. The stock had a trading volume of 2,746,317 shares. The stock’s 50-day moving average is $52.37 and its 200-day moving average is $49.62. Bank Of New York Mellon Corporation has a 52-week low of $38.68 and a 52-week high of $54.59. The stock has a market capitalization of $54.78 billion, a PE ratio of 15.72 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. On average, analysts predict that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

Bank Of New York Mellon Corporation (The) announced that its board has approved a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $3.10 billion in shares. This repurchase authorization allows the bank to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

In other Bank Of New York Mellon Corporation (The) news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $53.09, for a total value of $530,900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Gerald L. Hassell sold 1,788 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total value of $94,835.52. Following the completion of the sale, the chairman now owns 872,606 shares of the company’s stock, valued at $46,283,022.24. The disclosure for this sale can be found here. Insiders have sold a total of 10,931,137 shares of company stock valued at $581,058,723 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

Several equities analysts have commented on the company. Wells Fargo & Company assumed coverage on Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price objective for the company. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Zacks Investment Research raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Monday, July 24th. Royal Bank Of Canada reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Finally, Bank of America Corporation set a $52.00 price objective on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $54.25.

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Bank Of New York Mellon Corporation (The) 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 Corporation (The) (NYSE:BK)

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