Fmr LLC Has $43.74 Million Stake in Bank Of New York Mellon Corporation (The) (BK)

Fmr LLC cut its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 17.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 857,405 shares of the bank’s stock after selling 180,139 shares during the quarter. Fmr LLC owned 0.08% of Bank Of New York Mellon Corporation (The) worth $43,744,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Northstar Wealth Partners LLC bought a new position in shares of Bank Of New York Mellon Corporation (The) in the first quarter valued at approximately $546,000. MUFG Americas Holdings Corp grew its holdings in shares of Bank Of New York Mellon Corporation (The) by 5.3% in the second quarter. MUFG Americas Holdings Corp now owns 263,993 shares of the bank’s stock valued at $13,469,000 after acquiring an additional 13,228 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Bank Of New York Mellon Corporation (The) in the second quarter valued at approximately $304,000. Everence Capital Management Inc. grew its holdings in shares of Bank Of New York Mellon Corporation (The) by 35.1% in the second quarter. Everence Capital Management Inc. now owns 29,004 shares of the bank’s stock valued at $1,480,000 after acquiring an additional 7,530 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 valued at $3,133,681,000 after acquiring an additional 1,905,810 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

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 value of $530,900,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Gerald L. Hassell sold 1,788 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total value of $94,835.52. Following the completion of the sale, the chairman now owns 872,606 shares in the company, valued at approximately $46,283,022.24. The disclosure for this sale can be found here. Insiders sold 10,931,137 shares of company stock worth $581,058,723 in the last quarter. 3.60% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on BK. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Jefferies Group LLC reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Buckingham Research reissued a “neutral” rating and set a $57.00 price objective (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. 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 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 report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Bank Of New York Mellon Corporation (The) has an average rating of “Hold” and a consensus price target of $54.81.

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Shares of Bank Of New York Mellon Corporation (NYSE:BK) opened at 53.96 on Wednesday. Bank Of New York Mellon Corporation has a 12 month low of $39.19 and a 12 month high of $55.29. The stock has a market cap of $55.75 billion, a P/E ratio of 16.00 and a beta of 1.15. The company has a 50 day moving average price of $52.64 and a 200-day moving average price of $50.42.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data 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 return on equity of 10.35% and a net margin of 23.35%. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the business posted $0.76 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. On average, equities research analysts predict that Bank Of New York Mellon Corporation will post $3.52 earnings per share for the current year.

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

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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