Ycg LLC raised its position in Bank of New York Mellon Corp (NYSE:BK) by 36.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,494 shares of the bank’s stock after purchasing an additional 2,000 shares during the quarter. Ycg LLC’s holdings in Bank of New York Mellon were worth $331,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its position in Bank of New York Mellon by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 10,721,814 shares of the bank’s stock worth $503,675,000 after purchasing an additional 655,356 shares during the period. Ronna Sue Cohen increased its position in shares of Bank of New York Mellon by 4,919.9% during the first quarter. Ronna Sue Cohen now owns 2,207,487 shares of the bank’s stock worth $2,207,000 after acquiring an additional 2,163,512 shares during the period. Marathon Asset Management LLP increased its position in shares of Bank of New York Mellon by 13.6% during the second quarter. Marathon Asset Management LLP now owns 1,550,270 shares of the bank’s stock worth $68,439,000 after acquiring an additional 185,144 shares during the period. PGGM Investments increased its position in shares of Bank of New York Mellon by 54.2% during the first quarter. PGGM Investments now owns 1,469,539 shares of the bank’s stock worth $74,109,000 after acquiring an additional 516,424 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its position in shares of Bank of New York Mellon by 0.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,262,352 shares of the bank’s stock worth $63,660,000 after acquiring an additional 11,228 shares during the period. 84.02% of the stock is currently owned by institutional investors.

BK has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a “neutral” rating and set a $145.00 target price on shares of Travelers Companies in a research report on Thursday, April 18th. UBS Group set a $13.00 target price on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research report on Wednesday, June 26th. Deutsche Bank reaffirmed a “buy” rating and set a GBX 4,000 ($52.27) target price on shares of in a research report on Tuesday, June 18th. Zacks Investment Research lowered shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Finally, Buckingham Research reduced their target price on shares of Bank of New York Mellon from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $50.45.

In other news, Director Trian Fund Management, L.P. sold 621,807 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $50.11, for a total transaction of $31,158,748.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman William M. Daley bought 11,350 shares of the stock in a transaction on Thursday, July 18th. The stock was purchased at an average price of $44.93 per share, with a total value of $509,955.50. Following the completion of the purchase, the insider now owns 5,700 shares of the company’s stock, valued at $256,101. The disclosure for this purchase can be found here. 1.71% of the stock is currently owned by company insiders.

Shares of NYSE BK traded up $0.10 during midday trading on Tuesday, reaching $46.93. 3,055,861 shares of the company’s stock traded hands, compared to its average volume of 4,653,289. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.68 and a current ratio of 0.71. The stock’s 50 day moving average is $44.49. Bank of New York Mellon Corp has a one year low of $42.13 and a one year high of $54.27. The stock has a market cap of $44.48 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.04.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, July 17th. The bank reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.07. Bank of New York Mellon had a net margin of 19.93% and a return on equity of 10.74%. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm earned $1.03 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Equities analysts predict that Bank of New York Mellon Corp will post 3.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Monday, July 29th will be paid a dividend of $0.31 per share. The ex-dividend date is Friday, July 26th. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.64%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 29.45%.

Bank of New York Mellon announced that its Board of Directors has authorized a stock buyback plan on Thursday, June 27th that permits the company to repurchase $3.94 billion in shares. This repurchase authorization permits the bank to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Bank of New York Mellon Profile

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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