Northwestern Mutual Wealth Management Co. lifted its holdings in Bank of New York Mellon Corp (NYSE:BK) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,680 shares of the bank’s stock after purchasing an additional 3,218 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Bank of New York Mellon were worth $14,705,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BK. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Bank of New York Mellon in the second quarter valued at $102,000. Quad Cities Investment Group LLC bought a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $102,000. Centaurus Financial Inc. bought a new position in Bank of New York Mellon in the 1st quarter valued at approximately $126,000. Kaizen Advisory LLC raised its holdings in Bank of New York Mellon by 157.6% in the 2nd quarter. Kaizen Advisory LLC now owns 2,558 shares of the bank’s stock valued at $138,000 after buying an additional 1,565 shares during the last quarter. Finally, Ostrum Asset Management bought a new position in Bank of New York Mellon in the 1st quarter valued at approximately $148,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Monday, May 21st. Raymond James downgraded shares of Bank of New York Mellon from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 12th. ValuEngine downgraded shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Vining Sparks reissued a “buy” rating and issued a $62.00 price target on shares of Bank of New York Mellon in a research report on Monday, July 23rd. Finally, Sandler O’Neill restated a “hold” rating on shares of Bank of New York Mellon in a research note on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Bank of New York Mellon has a consensus rating of “Hold” and a consensus price target of $59.12.

BK stock traded up $0.43 during mid-day trading on Friday, reaching $51.65. 3,751,663 shares of the company traded hands, compared to its average volume of 3,635,039. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $52.01 billion, a PE ratio of 14.35, a PEG ratio of 1.62 and a beta of 1.04. Bank of New York Mellon Corp has a 52-week low of $49.39 and a 52-week high of $58.99.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Thursday, July 19th. The bank reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. Bank of New York Mellon had a return on equity of 11.40% and a net margin of 25.08%. The company had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Bank of New York Mellon’s revenue was up 4.6% on a year-over-year basis. equities research analysts anticipate that Bank of New York Mellon Corp will post 4.18 EPS for the current fiscal year.

Bank of New York Mellon announced that its Board of Directors has initiated a stock buyback program on Thursday, June 28th that permits the company to repurchase $2.40 billion in shares. This repurchase authorization permits the bank to buy up to 4.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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