The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC lowered its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,716 shares of the bank’s stock after selling 964 shares during the quarter. Wealthspire Advisors LLC’s holdings in Bank of New York Mellon were worth $582,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BK. United Services Automobile Association lifted its stake in Bank of New York Mellon by 6.9% in the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after buying an additional 1,640 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Bank of New York Mellon in the first quarter valued at approximately $1,027,000. QRG Capital Management Inc. boosted its stake in shares of Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after acquiring an additional 8,204 shares during the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of Bank of New York Mellon during the first quarter worth approximately $3,740,000. Finally, Bessemer Group Inc. raised its stake in Bank of New York Mellon by 128.8% in the 1st quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock valued at $1,771,000 after purchasing an additional 17,312 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BK. Keefe, Bruyette & Woods reaffirmed 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 report on Monday, July 15th. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Citigroup cut Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Monday, July 15th. Finally, Evercore ISI boosted their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.14.

Bank of New York Mellon Stock Up 2.7 %

Shares of NYSE:BK opened at $70.53 on Tuesday. The business has a 50-day moving average price of $65.21 and a 200 day moving average price of $60.27. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $70.61. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $52.05 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.17 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $4.53 billion. During the same period in the previous year, the firm earned $1.38 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.63 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Monday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is currently 43.52%.

Bank of New York Mellon Company 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.