Westchester Capital Management Inc. reduced its position in shares of Bank Of New York Mellon Corp. (NYSE:BK) by 6.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 191,793 shares of the company’s stock after selling 13,600 shares during the period. Bank Of New York Mellon Corp. comprises about 3.7% of Westchester Capital Management Inc.’s holdings, making the stock its 15th largest position. Westchester Capital Management Inc.’s holdings in Bank Of New York Mellon Corp. were worth $7,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Roble Belko & Company Inc boosted its position in Bank Of New York Mellon Corp. by 25.1% in the third quarter. Roble Belko & Company Inc now owns 2,502 shares of the company’s stock worth $100,000 after buying an additional 502 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Bank Of New York Mellon Corp. during the second quarter worth $101,000. Hudock Capital Group LLC boosted its position in Bank Of New York Mellon Corp. by 0.3% in the third quarter. Hudock Capital Group LLC now owns 2,534 shares of the company’s stock worth $101,000 after buying an additional 7 shares during the last quarter. Advisory Services Network LLC boosted its position in Bank Of New York Mellon Corp. by 6.9% in the third quarter. Advisory Services Network LLC now owns 2,669 shares of the company’s stock worth $106,000 after buying an additional 173 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC boosted its position in Bank Of New York Mellon Corp. by 5,546.0% in the second quarter. Pinkerton Retirement Specialists LLC now owns 2,823 shares of the company’s stock worth $110,000 after buying an additional 2,773 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Bank Of New York Mellon Corp. (NYSE:BK)

Shares of Bank Of New York Mellon Corp. (NYSE:BK) traded up 0.83% during trading on Wednesday, hitting $47.44. 2,911,277 shares of the stock traded hands. The company’s 50 day moving average is $43.95 and its 200 day moving average is $41.14. The firm has a market cap of $50.16 billion, a PE ratio of 16.05 and a beta of 1.30. Bank Of New York Mellon Corp. has a 52-week low of $32.20 and a 52-week high of $47.96.

Bank Of New York Mellon Corp. (NYSE:BK) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.09. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.86 billion. Bank Of New York Mellon Corp. had a return on equity of 9.66% and a net margin of 21.65%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. On average, equities research analysts predict that Bank Of New York Mellon Corp. will post $3.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Tuesday, November 1st were issued a $0.19 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. Bank Of New York Mellon Corp.’s dividend payout ratio is currently 25.68%.

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A number of analysts have recently commented on BK shares. Barclays PLC reissued a “buy” rating and set a $48.00 target price on shares of Bank Of New York Mellon Corp. in a research note on Tuesday, October 11th. Credit Suisse Group AG started coverage on shares of Bank Of New York Mellon Corp. in a research note on Tuesday, November 22nd. They set a “neutral” rating and a $46.00 target price for the company. Zacks Investment Research raised shares of Bank Of New York Mellon Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Friday, October 14th. Buckingham Research cut shares of Bank Of New York Mellon Corp. from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a research note on Monday, November 21st. Finally, boosted their target price on shares of Bank Of New York Mellon Corp. from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Bank Of New York Mellon Corp. has an average rating of “Buy” and an average target price of $46.43.

In related news, Vice Chairman Thomas P. Gibbons sold 79,022 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $43.20, for a total transaction of $3,413,750.40. Following the transaction, the insider now owns 439,610 shares in the company, valued at approximately $18,991,152. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gerald L. Hassell sold 40,000 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $34.35, for a total value of $1,374,000.00. Following the transaction, the chief executive officer now owns 1,003,176 shares in the company, valued at approximately $34,459,095.60. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

About Bank Of New York Mellon Corp.

The Bank of New York Mellon Corporation (BNY Mellon) 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 credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

5 Day Chart for NYSE:BK

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