Bank Of New York Mellon Corporation (The) (NYSE:BK) Position Held by Foresters Investment Management Company Inc.

Foresters Investment Management Company Inc. maintained its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,100 shares of the bank’s stock at the end of the first quarter. Foresters Investment Management Company Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $6,475,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Dodge & Cox purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter worth approximately $2,352,702,000. Lincoln Capital Corp bought a new stake in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter worth approximately $3,544,000. Quadrature Capital Ltd raised its stake in shares of Bank Of New York Mellon Corporation (The) by 141.8% in the fourth quarter. Quadrature Capital Ltd now owns 71,589 shares of the bank’s stock worth $3,392,000 after buying an additional 41,983 shares in the last quarter. Wealthfront Inc. raised its stake in shares of Bank Of New York Mellon Corporation (The) by 16.4% in the fourth quarter. Wealthfront Inc. now owns 33,551 shares of the bank’s stock worth $1,590,000 after buying an additional 4,735 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Bank Of New York Mellon Corporation (The) by 18.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,278,392 shares of the bank’s stock worth $155,329,000 after buying an additional 500,827 shares in the last quarter. 82.03% of the stock is owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (BK) opened at 53.35 on Tuesday. The company has a 50-day moving average price of $48.27 and a 200 day moving average price of $47.32. Bank Of New York Mellon Corporation has a 1-year low of $38.53 and a 1-year high of $53.53. The stock has a market cap of $55.48 billion, a P/E ratio of 16.41 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its earnings results on Thursday, April 20th. The bank reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Bank Of New York Mellon Corporation (The) had a net margin of 23.12% and a return on equity of 9.97%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts expect that Bank Of New York Mellon Corporation will post $3.51 earnings per share for the current fiscal year.

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

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A number of brokerages have commented on BK. 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. Jefferies Group LLC reissued a “hold” rating and set a $52.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, May 17th. Credit Suisse Group reissued a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, April 21st. Keefe, Bruyette & Woods set a $49.00 price objective on Bank Of New York Mellon Corporation (The) and gave the stock a “hold” rating in a report on Tuesday, April 4th. Finally, BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $51.44.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 102,174 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $47.71, for a total value of $4,874,721.54. Following the completion of the sale, the insider now owns 271,416 shares of the company’s stock, valued at approximately $12,949,257.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 10,000 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $47.64, for a total transaction of $476,400.00. Following the completion of the sale, the executive vice president now directly owns 100,487 shares of the company’s stock, valued at approximately $4,787,200.68. The disclosure for this sale can be found here. 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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