Bank Of New York Mellon Corporation (The) (BK) Shares Bought by Martingale Asset Management L P

Martingale Asset Management L P grew its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 94.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 336,745 shares of the bank’s stock after purchasing an additional 163,251 shares during the period. Martingale Asset Management L P’s holdings in Bank Of New York Mellon Corporation (The) were worth $17,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BK. Hudock Capital Group LLC raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after buying an additional 7 shares during the period. Kistler Tiffany Companies LLC raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock valued at $212,000 after buying an additional 12 shares during the period. CHICAGO TRUST Co NA raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after buying an additional 29 shares during the period. Cpcm LLC raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.4% during the 1st quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock valued at $458,000 after buying an additional 35 shares during the period. Finally, First Bank & Trust raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 1.1% during the 2nd quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock valued at $245,000 after buying an additional 52 shares during the period. 81.80% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) opened at 51.56 on Friday. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59. The firm’s 50-day moving average price is $52.43 and its 200 day moving average price is $49.53. The stock has a market capitalization of $53.27 billion, a P/E ratio of 15.29 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the 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 firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

Bank Of New York Mellon Corporation (The) declared that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 1,788 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now owns 872,606 shares of the company’s stock, valued at approximately $46,283,022.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total value of $2,340,825.00. Following the completion of the transaction, the insider now directly owns 204,043 shares of the company’s stock, valued at approximately $10,793,874.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,931,137 shares of company stock valued at $581,058,723. Insiders own 3.60% of the company’s stock.

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Several equities research analysts recently commented on BK shares. Bank of America Corporation reiterated an “underperform” rating and set a $49.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, May 26th. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Zacks Investment Research downgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Buckingham Research reiterated a “neutral” rating and set a $57.00 target price (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.82.

Bank Of New York Mellon Corporation (The) Company 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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