Personal Capital Advisors Corp cut its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 110,258 shares of the bank’s stock after selling 6,245 shares during the period. Personal Capital Advisors Corp’s holdings in Bank Of New York Mellon Corporation (The) were worth $5,625,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted 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 valued at $104,000 after buying an additional 92 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at $111,000. Hudock Capital Group LLC boosted 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 valued at $120,000 after buying an additional 7 shares in the last quarter. QCI Asset Management Inc. NY bought a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at $125,000. Finally, Exane Derivatives bought a new position in shares of Bank Of New York Mellon Corporation (The) during the second quarter valued at $130,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.46% during midday trading on Friday, hitting $52.19. The stock had a trading volume of 5,932,583 shares. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The firm has a 50 day moving average price of $52.42 and a 200 day moving average price of $48.49. The stock has a market cap 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 results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the consensus estimate 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 business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the company posted $0.76 EPS. Bank Of New York Mellon Corporation (The)’s revenue was up .4% on a year-over-year basis. Equities analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

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

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

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BK has been the subject of several recent research reports. Credit Suisse Group reiterated a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, April 21st. Rafferty Capital Markets reissued a “buy” rating and issued a $53.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday, May 17th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $49.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. Finally, BidaskClub raised Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $53.12.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the completion of the transaction, the insider now owns 455,927 shares of the company’s stock, valued at approximately $24,597,261.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Trian Fund Management, L.P. sold 10,000,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $53.09, for a total transaction of $530,900,000.00. The disclosure for this sale can be found here. Insiders sold 10,885,099 shares of company stock valued at $578,623,062 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

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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