Morningstar Investment Services LLC boosted its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,053 shares of the bank’s stock after buying an additional 87,549 shares during the period. Morningstar Investment Services LLC owned approximately 0.06% of Bank Of New York Mellon Corporation (The) worth $33,421,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Dupont Capital Management Corp bought a new position in shares of Bank Of New York Mellon Corporation (The) during the second quarter worth approximately $304,000. Shufro Rose & Co. LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 8.6% in the second quarter. Shufro Rose & Co. LLC now owns 7,600 shares of the bank’s stock worth $388,000 after buying an additional 600 shares during the period. Rational Advisors LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 59.4% in the second quarter. Rational Advisors LLC now owns 16,370 shares of the bank’s stock worth $835,000 after buying an additional 6,100 shares during the period. Advisors Asset Management Inc. raised its position in shares of Bank Of New York Mellon Corporation (The) by 16.5% in the second quarter. Advisors Asset Management Inc. now owns 15,098 shares of the bank’s stock worth $770,000 after buying an additional 2,136 shares during the period. Finally, Westchester Capital Management Inc. raised its position in shares of Bank Of New York Mellon Corporation (The) by 2.0% in the second quarter. Westchester Capital Management Inc. now owns 189,076 shares of the bank’s stock worth $9,647,000 after buying an additional 3,633 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 52.09 on Wednesday. The company’s 50 day moving average is $52.90 and its 200 day moving average is $49.04. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The stock has a market cap of $53.82 billion, a PE ratio of 15.45 and a beta of 1.15.

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

The company also recently declared a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st were issued a dividend of $0.24 per share. This is an increase 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 dividend yield of 1.84%. Bank Of New York Mellon Corporation (The)’s payout ratio is 28.40%.

Bank Of New York Mellon Corporation (The) announced that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $3.10 billion in shares. This repurchase authorization authorizes the bank to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: This report was first published by Watch List News and is owned by of Watch List News. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.watchlistnews.com/bank-of-new-york-mellon-corporation-the-bk-stake-raised-by-morningstar-investment-services-llc/1530978.html.

BK has been the topic of a number of research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Wednesday, May 17th. Bank of America Corporation reaffirmed an “underperform” rating and set a $49.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, May 26th. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research downgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, Buckingham Research reiterated a “neutral” rating and set a $57.00 price objective (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research note on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $53.12.

In other news, Chairman Gerald L. Hassell sold 700,719 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the completion of the transaction, the chairman now owns 1,253,522 shares of the company’s stock, valued at $67,577,371.02. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the completion of the sale, the insider now directly owns 204,043 shares of the company’s stock, valued at approximately $10,793,874.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,931,137 shares of company stock valued at $581,058,723. Corporate 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.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank Of New York Mellon Corporation (The) (NYSE:BK).

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

Receive News & Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.