Blair William & Co. IL Has $1.42 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Blair William & Co. IL boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,691 shares of the bank’s stock after buying an additional 2,298 shares during the period. Blair William & Co. IL’s holdings in Bank of New York Mellon were worth $1,419,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BK. Olistico Wealth LLC acquired a new position in Bank of New York Mellon during the second quarter worth approximately $30,000. Clearstead Trust LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Bank of New York Mellon in the 1st quarter valued at $32,000. Able Wealth Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $32,000. Finally, Family Firm Inc. bought a new position in Bank of New York Mellon during the second quarter worth $40,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.4 %

Shares of Bank of New York Mellon stock opened at $72.14 on Tuesday. The company has a market capitalization of $53.95 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The stock has a fifty day simple moving average of $66.10 and a 200 day simple moving average of $60.83. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $73.19. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

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, beating analysts’ consensus estimates of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.63 earnings per share 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. Investors of record on Monday, July 22nd were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Insiders Place Their Bets

In other 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 sale, 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 legal filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

BK has been the topic of several research reports. Morgan Stanley upped their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and upped their price objective for the company from $66.00 to $80.00 in a report on Monday. Citigroup lifted their target price on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Finally, Barclays lifted their price objective on shares of 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. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $67.86.

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.