Bank Of New York Mellon Corporation (The) (NYSE:BK) Stake Maintained by Kings Point Capital Management

Kings Point Capital Management held its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,000 shares of the bank’s stock at the end of the 2nd quarter. Kings Point Capital Management’s holdings in Bank Of New York Mellon Corporation (The) were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of BK. BlackRock Inc. boosted its position in Bank Of New York Mellon Corporation (The) by 2,064.6% during the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after purchasing an additional 55,073,730 shares during the last quarter. New England Asset Management Inc. lifted its position in shares of Bank Of New York Mellon Corporation (The) by 92,225.0% in the first quarter. New England Asset Management Inc. now owns 3,693,000 shares of the bank’s stock worth $174,420,000 after buying an additional 3,689,000 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Bank Of New York Mellon Corporation (The) by 135.6% in the first quarter. American Century Companies Inc. now owns 3,776,619 shares of the bank’s stock worth $178,370,000 after buying an additional 2,173,699 shares during the last quarter. Vanguard Group Inc. lifted 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 last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Bank Of New York Mellon Corporation (The) by 82.1% in the first quarter. AQR Capital Management LLC now owns 3,102,607 shares of the bank’s stock worth $146,536,000 after buying an additional 1,399,039 shares during the last quarter. 81.80% of the stock is owned by institutional investors and hedge funds.

In related news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total transaction of $530,900,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were 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 $24,597,261.65. The disclosure for this sale can be found here. Over the last 90 days, 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.

A number of analysts have weighed in on BK shares. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, July 4th. Deutsche Bank AG lifted their price objective on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Zacks Investment Research upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Monday, July 24th. Royal Bank Of Canada reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, July 21st. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $53.59.

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Bank Of New York Mellon Corporation (BK) opened at 51.14 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 $52.46 and its 200 day moving average price is $49.50. The firm has a market cap of $52.84 billion, a P/E ratio of 15.17 and a beta of 1.14.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the company posted $0.76 EPS. Bank Of New York Mellon Corporation (The)’s revenue was up .4% on a year-over-year basis. Analysts forecast 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) declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $3.10 billion in outstanding shares. This buyback authorization permits the bank to reacquire up to 5.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are 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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