FUKOKU MUTUAL LIFE INSURANCE Co held its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,170 shares of the bank’s stock at the close of the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Bank Of New York Mellon Corporation (The) were worth $417,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BK. Vanguard Group Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 67,420,467 shares of the bank’s stock worth $3,439,792,000 after buying an additional 1,071,088 shares in the last quarter. BlackRock Inc. lifted its position in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% during the 1st quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock worth $2,727,121,000 after buying an additional 55,073,730 shares during the last quarter. Longview Partners Guernsey LTD lifted its position in shares of Bank Of New York Mellon Corporation (The) by 4.6% during the 2nd quarter. Longview Partners Guernsey LTD now owns 16,519,184 shares of the bank’s stock worth $842,809,000 after buying an additional 726,898 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Bank Of New York Mellon Corporation (The) by 5.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,129,897 shares of the bank’s stock worth $771,927,000 after buying an additional 838,301 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in shares of Bank Of New York Mellon Corporation (The) by 0.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 13,498,951 shares of the bank’s stock worth $688,716,000 after buying an additional 50,788 shares during the last quarter. 81.78% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the business’s 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles W. Scharf bought 186,900 shares of the company’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now directly owns 73,640 shares in the company, valued at $3,963,304.80. The disclosure for this purchase can be found here. Insiders have sold 10,931,137 shares of company stock worth $581,058,723 over the last ninety days. Insiders own 3.60% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.89% during mid-day trading on Monday, reaching $53.49. The company had a trading volume of 832,743 shares. The firm has a 50-day moving average price of $52.37 and a 200 day moving average price of $49.62. The firm has a market capitalization of $55.26 billion, a price-to-earnings ratio of 15.86 and a beta of 1.15. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. 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 of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $3.10 billion in outstanding shares. This repurchase authorization authorizes the bank to purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of research analysts have issued reports on the company. Wells Fargo & Company started coverage on Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 target price on the stock. Zacks Investment Research cut shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a report on Thursday, September 21st. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reissued a “hold” rating and issued a $56.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, September 15th. Finally, Buckingham Research restated 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 research note on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $54.25.

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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