Bank Of New York Mellon Corporation (The) (BK) Stake Maintained by Rockefeller Financial Services Inc.

Rockefeller Financial Services Inc. maintained its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,731 shares of the bank’s stock at the end of the second quarter. Rockefeller Financial Services Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,639,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised 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 period. BlackRock Inc. raised 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 period. Geode Capital Management LLC raised 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 period. JPMorgan Chase & Co. raised 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 period. Finally, Clearbridge Investments LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 0.5% in the first quarter. Clearbridge Investments LLC now owns 9,518,101 shares of the bank’s stock worth $449,540,000 after buying an additional 51,390 shares during the period. 82.02% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bank Of New York Mellon Corporation (NYSE BK) traded up 0.58% during midday trading on Friday, reaching $52.10. 5,424,014 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $52.79 and its 200 day moving average price is $48.77. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59. The stock has a market capitalization of $53.83 billion, a P/E ratio of 15.45 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. Bank Of New York Mellon Corporation (The)’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. On average, equities analysts predict that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

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

The firm also recently declared 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 was Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. This is a boost 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 is currently 28.40%.

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A number of equities analysts have recently commented on BK shares. Rafferty Capital Markets reaffirmed a “buy” rating and set a $53.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, April 25th. Bank of America Corporation reaffirmed an “underperform” rating and set a $49.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, May 26th. BidaskClub lowered shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Deutsche Bank AG lifted their price objective on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” 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 analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $53.12.

In related news, Vice Chairman Brian T. Shea sold 44,250 shares of the stock in a transaction on Wednesday, August 16th. The shares were 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 approximately $10,793,874.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the stock in a transaction 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 sale, the insider now owns 455,927 shares of the company’s stock, valued at approximately $24,597,261.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,931,137 shares of company stock valued at $581,058,723. 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.

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

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