Atria Investments LLC Has $482,000 Position in Bank Of New York Mellon Corporation (The) (NYSE:BK)

Atria Investments LLC boosted its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 55.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,437 shares of the bank’s stock after buying an additional 3,362 shares during the period. Atria Investments LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $482,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Hudock Capital Group LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock worth $120,000 after buying an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Kistler Tiffany Companies LLC now owns 4,142 shares of the bank’s stock worth $196,000 after buying an additional 13 shares during the last quarter. Alpha Windward LLC raised its stake in shares of 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 worth $267,000 after buying an additional 24 shares during the last quarter. Cpcm LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.4% in the first quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock worth $458,000 after buying an additional 35 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.7% in the first quarter. Rehmann Capital Advisory Group now owns 5,236 shares of the bank’s stock worth $247,000 after buying an additional 36 shares during the last quarter. 82.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bank Of New York Mellon Corporation (BK) opened at 52.10 on Friday. The company has a market capitalization of $53.83 billion, a price-to-earnings ratio of 15.45 and a beta of 1.15. The company’s 50-day moving average is $52.79 and its 200 day moving average is $48.77. 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 data on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. On average, 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 initiated a share 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 purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.84%. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.40%.

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A number of equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, July 11th. Buckingham Research reissued a “neutral” rating and set a $57.00 price target (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 10th. Bank of America Corporation set a $52.00 price target on shares of 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 reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $53.12.

In related news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $53.09, for a total transaction of $530,900,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total value of $2,340,825.00. Following the completion of the sale, the insider now directly owns 204,043 shares in the company, valued at $10,793,874.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,931,137 shares of company stock worth $581,058,723. Corporate insiders own 3.60% of the company’s stock.

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.

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

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