Blair William & Co. IL Has $976,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Blair William & Co. IL boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,483 shares of the bank’s stock after acquiring an additional 604 shares during the period. Blair William & Co. IL’s holdings in Bank of New York Mellon were worth $976,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC raised its position in shares of Bank of New York Mellon by 160.0% during the first quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock worth $263,000 after purchasing an additional 3,297 shares during the period. Prudential PLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth approximately $1,096,000. Cetera Investment Advisers raised its position in shares of Bank of New York Mellon by 3.3% during the first quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock worth $1,769,000 after purchasing an additional 1,154 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of Bank of New York Mellon by 54.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 232,115 shares of the bank’s stock worth $11,519,000 after purchasing an additional 81,728 shares during the period. Finally, Zions Bancorporation N.A. raised its position in shares of Bank of New York Mellon by 165.3% during the first quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock worth $72,000 after purchasing an additional 909 shares during the period. 81.29% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

BK opened at $44.85 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.72 and a current ratio of 0.72. The Bank of New York Mellon Co. has a 52-week low of $36.22 and a 52-week high of $52.26. The stock has a market capitalization of $34.93 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The stock’s 50 day moving average price is $44.78 and its 200-day moving average price is $44.44.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, July 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.16. The firm had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Bank of New York Mellon had a return on equity of 11.88% and a net margin of 10.95%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 earnings per share. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 4.85 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Shareholders of record on Friday, July 28th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.75%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, July 27th. Bank of New York Mellon’s payout ratio is 48.98%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BK. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $43.00 to $44.00 in a research report on Wednesday, July 19th. Evercore ISI lowered their price target on Bank of New York Mellon from $49.00 to $46.00 in a research report on Friday, May 12th. StockNews.com started coverage on Bank of New York Mellon in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Citigroup lowered their price target on Bank of New York Mellon from $58.00 to $55.00 in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $52.90.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 14,045 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $45.64, for a total value of $641,013.80. Following the sale, the insider now directly owns 23,816 shares of the company’s stock, valued at $1,086,962.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP J Kevin Mccarthy sold 35,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $46.33, for a total transaction of $1,621,550.00. Following the transaction, the executive vice president now directly owns 98,102 shares of the company’s stock, valued at $4,545,065.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 14,045 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $45.64, for a total value of $641,013.80. Following the completion of the transaction, the insider now directly owns 23,816 shares in the company, valued at approximately $1,086,962.24. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.