D L Carlson Investment Group Inc. Reduces Position in The Bank of New York Mellon Co. (NYSE:BK)

D L Carlson Investment Group Inc. trimmed its stake in The Bank of New York Mellon Co. (NYSE:BK) by 12.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,514 shares of the bank’s stock after selling 8,367 shares during the period. D L Carlson Investment Group Inc.’s holdings in Bank of New York Mellon were worth $2,750,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Acadian Asset Management LLC raised its stake in Bank of New York Mellon by 160.0% during the 1st quarter. Acadian Asset Management LLC now owns 5,358 shares of the bank’s stock worth $263,000 after acquiring an additional 3,297 shares during the period. Prudential PLC bought a new stake in Bank of New York Mellon during the first quarter valued at about $1,096,000. Cetera Investment Advisers lifted its position in shares of Bank of New York Mellon by 3.3% in the first quarter. Cetera Investment Advisers now owns 35,635 shares of the bank’s stock valued at $1,769,000 after acquiring an additional 1,154 shares in the last quarter. Candriam Luxembourg S.C.A. grew 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 in the last quarter. Finally, Zions Bancorporation N.A. raised its stake in Bank of New York Mellon by 165.3% during the 1st quarter. Zions Bancorporation N.A. now owns 1,459 shares of the bank’s stock valued at $72,000 after purchasing an additional 909 shares during the period. 81.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BK has been the subject of a number of research reports. StockNews.com started coverage on shares of Bank of New York Mellon in a research report on Thursday, August 17th. They set a “hold” rating for the company. Citigroup decreased their target price on Bank of New York Mellon from $58.00 to $55.00 in a research report on Wednesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Bank of New York Mellon from $43.00 to $44.00 in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.90.

Bank of New York Mellon Trading Up 1.0 %

Shares of BK opened at $45.37 on Wednesday. The Bank of New York Mellon Co. has a twelve month low of $36.22 and a twelve month high of $52.26. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.94. The company’s fifty day simple moving average is $44.79 and its 200-day simple moving average is $44.24. The company has a market cap of $35.33 billion, a P/E ratio of 13.23, a P/E/G ratio of 1.17 and a beta of 1.10.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, July 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.16. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. Bank of New York Mellon had a return on equity of 11.88% and a net margin of 10.95%. Bank of New York Mellon’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. As a group, analysts expect 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 company also recently declared a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Friday, July 28th were issued a $0.42 dividend. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.70%. Bank of New York Mellon’s payout ratio is presently 48.98%.

Insider Buying and Selling

In other Bank of New York Mellon 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 value of $1,621,550.00. Following the completion of the sale, the executive vice president now directly owns 98,102 shares in the company, valued at approximately $4,545,065.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, 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 transaction of $641,013.80. Following the completion of 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 legal filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 35,000 shares of the business’s stock in a transaction that occurred 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 owns 98,102 shares of the company’s stock, valued at approximately $4,545,065.66. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

About Bank of New York Mellon

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.