CenturyLink Investment Management Co decreased its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 6.5% during the second quarter, Holdings Channel reports. The fund owned 43,223 shares of the bank’s stock after selling 3,004 shares during the period. CenturyLink Investment Management Co’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,205,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BK. Quadrant Capital Group LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,726 shares of the bank’s stock valued at $167,000 after buying an additional 94 shares in the last quarter. Regentatlantic Capital LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 5.9% in the first quarter. Regentatlantic Capital LLC now owns 4,717 shares of the bank’s stock valued at $223,000 after buying an additional 264 shares in the last quarter. Alpha Windward LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 0.4% in the first quarter. Alpha Windward LLC now owns 5,648 shares of the bank’s stock valued at $267,000 after buying an additional 24 shares in the last quarter. Atria Investments LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 16.4% in the first quarter. Atria Investments LLC now owns 6,075 shares of the bank’s stock valued at $287,000 after buying an additional 855 shares in the last quarter. Finally, Cullinan Associates Inc. acquired a new stake in Bank Of New York Mellon Corporation (The) during the first quarter valued at approximately $260,000. 82.44% of the stock is owned by institutional investors.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded down 3.1042% during trading on Thursday, reaching $52.3625. The company had a trading volume of 3,077,706 shares. Bank Of New York Mellon Corporation has a 12 month low of $38.68 and a 12 month high of $54.59. The stock’s 50-day moving average price is $52.28 and its 200-day moving average price is $48.41. The stock has a market capitalization of $54.10 billion, a PE ratio of 15.5286 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Equities analysts forecast 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 of Directors has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $3.10 billion in outstanding shares. This buyback authorization permits the bank to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st will be paid 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. This represents a $0.96 annualized dividend and a yield of 1.78%. The ex-dividend date is Friday, July 28th. Bank Of New York Mellon Corporation (The)’s payout ratio is 28.40%.

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Several analysts have recently commented on the company. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday. Buckingham Research reissued a “neutral” rating and issued a $57.00 price target (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, May 17th. Credit Suisse Group reissued a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, April 21st. Finally, 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 target for the company in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.12.

In other news, CEO Charles W. Scharf bought 186,900 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $53.82 per share, with a total value of $10,058,958.00. Following the purchase, the chief executive officer now directly owns 73,640 shares in the company, valued at $3,963,304.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 sale, the chairman now directly owns 1,253,522 shares in the company, valued at $67,577,371.02. The disclosure for this sale can be found here. 3.60% of the stock is owned by 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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