Macquarie Group Ltd. lowered its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 14.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,456,964 shares of the bank’s stock after selling 2,325,522 shares during the period. Bank Of New York Mellon Corporation (The) accounts for approximately 1.3% of Macquarie Group Ltd.’s investment portfolio, making the stock its 22nd biggest holding. Macquarie Group Ltd. owned approximately 1.31% of Bank Of New York Mellon Corporation (The) worth $713,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Interstate Bank increased its stake 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 worth $119,000 after acquiring an additional 842 shares during the period. Exane Derivatives bought a new position in Bank Of New York Mellon Corporation (The) during the 2nd quarter worth $130,000. Hudock Capital Group LLC increased its stake in Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after acquiring an additional 7 shares during the period. Advisory Services Network LLC increased its stake in Bank Of New York Mellon Corporation (The) by 15.5% during the 2nd quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock worth $138,000 after acquiring an additional 363 shares during the period. Finally, Burt Wealth Advisors increased its stake in Bank Of New York Mellon Corporation (The) by 2,186.7% during the 2nd quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock worth $139,000 after acquiring an additional 2,624 shares during the period. Institutional investors own 82.73% of the company’s stock.

Bank Of New York Mellon Corporation (BK) traded up $0.29 during midday trading on Friday, hitting $52.23. The company had a trading volume of 5,229,700 shares, compared to its average volume of 4,575,625. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69. Bank Of New York Mellon Corporation has a 12 month low of $43.85 and a 12 month high of $55.29. The firm has a market cap of $54,400.00, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.96 and a beta of 1.21.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. Bank Of New York Mellon Corporation (The)’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. equities research analysts anticipate that Bank Of New York Mellon Corporation will post 3.54 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon Corporation (The)’s payout ratio is presently 28.24%.

BK has been the topic of a number of recent research reports. 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. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Deutsche Bank AG raised 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. The Goldman Sachs Group, Inc. reaffirmed a “buy” rating and issued a $58.00 target price (up previously from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, October 20th. Finally, Morgan Stanley raised their target price on Bank Of New York Mellon Corporation (The) from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.28.

In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 24,280 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total transaction of $1,255,033.20. Following the transaction, the chairman now directly owns 857,899 shares of the company’s stock, valued at approximately $44,344,799.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Brian T. Shea sold 22,228 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $51.26, for a total value of $1,139,407.28. Following the transaction, the insider now directly owns 181,815 shares in the company, valued at $9,319,836.90. The disclosure for this sale can be found here. Insiders have sold a total of 6,876,390 shares of company stock worth $361,148,976 over the last ninety days. Company insiders own 3.60% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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