Public Employees Retirement Association of Colorado cut its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,257,949 shares of the bank’s stock after selling 3,238 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Bank Of New York Mellon Corporation (The) were worth $64,181,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Rothschild Investment Corp IL boosted its position in shares of Bank Of New York Mellon Corporation (The) by 20.6% in the first quarter. Rothschild Investment Corp IL now owns 5,853 shares of the bank’s stock worth $276,000 after buying an additional 1,000 shares in the last quarter. Huntington National Bank boosted its position in shares of Bank Of New York Mellon Corporation (The) by 26.8% in the first quarter. Huntington National Bank now owns 23,045 shares of the bank’s stock worth $1,088,000 after buying an additional 4,873 shares in the last quarter. City Holding Co. boosted its position in shares of Bank Of New York Mellon Corporation (The) by 6.4% in the first quarter. City Holding Co. now owns 30,277 shares of the bank’s stock worth $1,430,000 after buying an additional 1,815 shares in the last quarter. Oakbrook Investments LLC acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $4,017,000. Finally, Granite Investment Advisors LLC acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $6,375,000. Institutional investors and hedge funds own 82.02% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (BK) opened at 53.15 on Wednesday. The company’s 50-day moving average price is $52.63 and its 200 day moving average price is $48.67. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The company has a market cap of $54.91 billion, a PE ratio of 15.76 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the business earned $0.76 earnings per share. Bank Of New York Mellon Corporation (The)’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts forecast that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

Bank Of New York Mellon Corporation (The) declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $3.10 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.40%.

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BK has been the topic of a number of recent research reports. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Rafferty Capital Markets reissued a “buy” rating and issued a $53.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 25th. Deutsche Bank AG raised their target price on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Zacks Investment Research raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, July 24th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $53.12.

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