The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 86.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 856 shares of the bank’s stock after acquiring an additional 398 shares during the period. Blue Trust Inc.’s holdings in Bank of New York Mellon were worth $49,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. United Services Automobile Association grew its stake in shares of Bank of New York Mellon by 6.9% in the fourth quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock worth $1,325,000 after acquiring an additional 1,640 shares in the last quarter. Entropy Technologies LP acquired a new stake in Bank of New York Mellon in the 1st quarter valued at about $1,027,000. QRG Capital Management Inc. increased its stake in shares of Bank of New York Mellon by 6.9% during the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after buying an additional 8,204 shares during the period. Searle & CO. purchased a new position in Bank of New York Mellon in the fourth quarter worth approximately $234,000. Finally, Wakefield Asset Management LLLP purchased a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $3,740,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BK has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Barclays boosted their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Monday, July 15th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Finally, Morgan Stanley lifted their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.14.

Insiders Place Their Bets

In related news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $65.49 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71. The company has a market cap of $48.97 billion, a PE ratio of 15.16, a P/E/G ratio of 1.14 and a beta of 1.09. The stock has a fifty day moving average price of $62.32 and a 200 day moving average price of $58.71. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $65.97.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.6 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were given a $0.47 dividend. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.87%. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

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.