Kowal Investment Group LLC Has $540,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Kowal Investment Group LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,010 shares of the bank’s stock after purchasing an additional 291 shares during the period. Kowal Investment Group LLC’s holdings in Bank of New York Mellon were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Symmetry Investments LP boosted its position in shares of Bank of New York Mellon by 64.7% in the second quarter. Symmetry Investments LP now owns 10,131 shares of the bank’s stock valued at $607,000 after acquiring an additional 3,981 shares during the period. Ensign Peak Advisors Inc boosted its holdings in Bank of New York Mellon by 36.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 145,451 shares of the bank’s stock valued at $8,711,000 after purchasing an additional 38,740 shares during the period. Sompo Asset Management Co. Ltd. grew its position in shares of Bank of New York Mellon by 3.6% during the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 14,510 shares of the bank’s stock worth $869,000 after purchasing an additional 500 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Bank of New York Mellon by 5.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 669,889 shares of the bank’s stock worth $40,120,000 after purchasing an additional 33,833 shares during the period. Finally, AE Wealth Management LLC raised its position in shares of Bank of New York Mellon by 10.1% in the second quarter. AE Wealth Management LLC now owns 16,792 shares of the bank’s stock valued at $1,006,000 after buying an additional 1,535 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Citigroup raised their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Barclays upped their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.59.

Bank of New York Mellon Stock Performance

NYSE BK opened at $71.82 on Friday. The firm’s fifty day moving average price is $65.98 and its two-hundred day moving average price is $60.68. The stock has a market cap of $53.71 billion, a PE ratio of 16.63, a PEG ratio of 1.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $71.96.

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 for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that The Bank of New York Mellon Co. will post 5.63 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is 43.52%.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently 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.