Employees Retirement System of Texas Sells 17,000 Shares of Bank Of New York Mellon Corporation (The) (BK)

Employees Retirement System of Texas reduced its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 21.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 62,000 shares of the bank’s stock after selling 17,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Bank Of New York Mellon Corporation (The) were worth $3,163,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Northstar Wealth Partners LLC bought a new stake in shares of Bank Of New York Mellon Corporation (The) during the 1st quarter valued at about $546,000. MUFG Americas Holdings Corp grew its stake in shares of Bank Of New York Mellon Corporation (The) by 5.3% during the 2nd quarter. MUFG Americas Holdings Corp now owns 263,993 shares of the bank’s stock valued at $13,469,000 after purchasing an additional 13,228 shares during the period. Dupont Capital Management Corp bought a new stake in shares of Bank Of New York Mellon Corporation (The) during the 2nd quarter valued at about $304,000. Everence Capital Management Inc. grew its stake in shares of Bank Of New York Mellon Corporation (The) by 35.1% during the 2nd quarter. Everence Capital Management Inc. now owns 29,004 shares of the bank’s stock valued at $1,480,000 after purchasing an additional 7,530 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Bank Of New York Mellon Corporation (The) by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock valued at $3,133,681,000 after purchasing an additional 1,905,810 shares during the period. Institutional investors and hedge funds own 81.78% of the company’s stock.

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

Bank Of New York Mellon Corporation (NYSE BK) opened at 54.47 on Monday. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.81. The firm has a 50-day moving average price of $52.33 and a 200 day moving average price of $50.06. The company has a market capitalization of $56.28 billion, a P/E ratio of 16.15 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 EPS 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 company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company earned $0.76 earnings per share. Bank Of New York Mellon Corporation (The)’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS 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 permits the company to repurchase $3.10 billion in outstanding shares. This repurchase authorization permits the bank to purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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A number of equities research analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price target for the company. Zacks Investment Research downgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. BidaskClub downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Buckingham Research reiterated 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 research note on Monday, July 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $56.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Bank Of New York Mellon Corporation (The) has an average rating of “Hold” and an average target price of $54.25.

Bank Of New York Mellon Corporation (The) 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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