Bank Of New York Mellon Corporation (The) (BK) Shares Sold by QS Investors LLC

QS Investors LLC trimmed its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 84.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,111 shares of the bank’s stock after selling 141,097 shares during the quarter. QS Investors LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $1,281,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Summit Financial Wealth Advisors LLC boosted its position in Bank Of New York Mellon Corporation (The) by 3.2% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 77,106 shares of the bank’s stock valued at $3,934,000 after acquiring an additional 2,394 shares in the last quarter. Brandywine Global Investment Management LLC boosted its position in Bank Of New York Mellon Corporation (The) by 4.2% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 1,095,076 shares of the bank’s stock valued at $55,871,000 after acquiring an additional 43,844 shares in the last quarter. Veritable L.P. boosted its position in Bank Of New York Mellon Corporation (The) by 0.7% during the 2nd quarter. Veritable L.P. now owns 40,113 shares of the bank’s stock valued at $2,047,000 after acquiring an additional 294 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Bank Of New York Mellon Corporation (The) by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,918,147 shares of the bank’s stock valued at $455,011,000 after acquiring an additional 306,745 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its position in Bank Of New York Mellon Corporation (The) by 22.9% during the 2nd quarter. Baker Avenue Asset Management LP now owns 22,535 shares of the bank’s stock valued at $1,150,000 after acquiring an additional 4,206 shares in the last quarter. 81.78% of the stock is currently owned by institutional investors and hedge funds.

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BK has been the topic of several research reports. UBS AG cut Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research report on Friday, September 8th. 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 objective on the stock in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, July 11th. Bank of America Corporation set a $52.00 price objective on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Friday, July 21st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $54.81.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total value of $9,947,301.00. Following the completion of the sale, the insider now directly owns 455,927 shares in the company, valued at $24,597,261.65. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Trian Fund Management, L.P. sold 10,000,000 shares of the firm’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,931,137 shares of company stock worth $581,058,723. Insiders own 3.60% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) opened at 54.66 on Wednesday. The stock has a 50 day moving average price of $52.47 and a 200-day moving average price of $50.24. Bank Of New York Mellon Corporation has a 12 month low of $38.68 and a 12 month high of $54.81. The company has a market capitalization of $56.47 billion, a PE ratio of 16.21 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period last year, the firm earned $0.76 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Analysts forecast that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

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

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.

Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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