Mycio Wealth Partners LLC Has $409,000 Position in Bank Of New York Mellon Corporation (The) (NYSE:BK)

Mycio Wealth Partners LLC held its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,659 shares of the bank’s stock at the close of the second quarter. Mycio Wealth Partners LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its holdings in Bank Of New York Mellon Corporation (The) by 4.4% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock valued at $104,000 after buying an additional 92 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Bank Of New York Mellon Corporation (The) during the 1st quarter valued at $111,000. First Interstate Bank grew its holdings in Bank Of New York Mellon Corporation (The) by 56.2% during the 2nd quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock valued at $119,000 after buying an additional 842 shares during the last quarter. QCI Asset Management Inc. NY acquired a new stake in Bank Of New York Mellon Corporation (The) during the 1st quarter valued at $125,000. Finally, Exane Derivatives acquired a new stake in shares of Bank Of New York Mellon Corporation (The) during the second quarter worth $130,000. 81.78% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman Gerald L. Hassell sold 700,719 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the completion of the transaction, the chairman now owns 1,253,522 shares in the company, valued at $67,577,371.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles W. Scharf purchased 186,900 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $53.82 per share, with a total value of $10,058,958.00. Following the transaction, the chief executive officer now owns 73,640 shares of the company’s stock, valued at approximately $3,963,304.80. The disclosure for this purchase can be found here. In the last quarter, insiders sold 10,931,137 shares of company stock valued at $581,058,723. 3.60% of the stock is currently owned by corporate insiders.

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BK has been the topic of several analyst reports. Bank of America Corporation restated an “underperform” rating and set a $49.00 price objective 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 cut Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Buckingham Research reissued a “neutral” rating and issued a $57.00 price objective (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 10th. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $53.82.

Shares of Bank Of New York Mellon Corporation (NYSE BK) traded down 0.10% during midday trading on Friday, reaching $52.37. The company had a trading volume of 3,235,795 shares. The firm’s 50 day moving average price is $52.37 and its 200-day moving average price is $49.62. The company has a market capitalization of $54.11 billion, a P/E ratio of 15.53 and a beta of 1.14. Bank Of New York Mellon Corporation has a 12 month low of $38.68 and a 12 month high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The business’s revenue was up .4% on a year-over-year basis. Analysts anticipate 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 share repurchase program on Wednesday, June 28th that allows the company to buyback $3.10 billion in shares. This buyback authorization allows the bank to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership 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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