KBC Group NV decreased its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 18.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 244,685 shares of the bank’s stock after selling 54,072 shares during the period. KBC Group NV’s holdings in Bank Of New York Mellon Corporation (The) were worth $12,484,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Bank Of New York Mellon Corporation (The) by 3.0% in the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock worth $3,133,681,000 after buying an additional 1,905,810 shares during the last quarter. BlackRock Inc. increased its position in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% in the first 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 increased its position in shares of Bank Of New York Mellon Corporation (The) by 4.6% in the second 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. Geode Capital Management LLC increased its position in shares of Bank Of New York Mellon Corporation (The) by 11.6% in the first quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock worth $491,122,000 after buying an additional 1,085,595 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Bank Of New York Mellon Corporation (The) by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock worth $463,187,000 after buying an additional 780,125 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Bank Of New York Mellon Corporation (BK) opened at 52.28 on Friday. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59. The firm’s 50-day moving average is $52.96 and its 200 day moving average is $49.23. The stock has a market capitalization of $54.01 billion, a P/E ratio of 15.50 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings data 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 quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current year.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were given 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 annualized dividend and a yield of 1.84%. Bank Of New York Mellon Corporation (The)’s payout ratio is 28.40%.

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A number of equities analysts have commented on BK shares. Jefferies Group LLC restated a “hold” rating and set a $52.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Wednesday, May 17th. Bank of America Corporation restated an “underperform” rating and set a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, May 26th. BidaskClub upgraded 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 report on Wednesday, June 21st. Finally, Buckingham Research restated a “neutral” rating and set a $57.00 price objective (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 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. The company has an average rating of “Hold” and a consensus price target of $53.47.

In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 1,788 shares of the business’s 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 sale, the chairman now directly owns 872,606 shares in the company, valued at $46,283,022.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the business’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 owns 204,043 shares in the company, valued at $10,793,874.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,931,137 shares of company stock worth $581,058,723. 3.60% of the stock is owned by company insiders.

Bank Of New York Mellon Corporation (The) Company 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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