NewEdge Advisors LLC Boosts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

NewEdge Advisors LLC increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 66.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,596 shares of the bank’s stock after acquiring an additional 11,457 shares during the quarter. NewEdge Advisors LLC’s holdings in Bank of New York Mellon were worth $1,713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its holdings in shares of Bank of New York Mellon by 25.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 53,688 shares of the bank’s stock valued at $2,794,000 after acquiring an additional 10,799 shares during the period. Cetera Advisor Networks LLC increased its stake in Bank of New York Mellon by 6.8% in the fourth quarter. Cetera Advisor Networks LLC now owns 93,306 shares of the bank’s stock valued at $4,857,000 after purchasing an additional 5,976 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of Bank of New York Mellon by 6,029.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 116,589 shares of the bank’s stock valued at $6,068,000 after buying an additional 114,687 shares during the last quarter. Stephens Inc. AR boosted its stake in shares of Bank of New York Mellon by 0.7% during the fourth quarter. Stephens Inc. AR now owns 69,559 shares of the bank’s stock worth $3,621,000 after buying an additional 512 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Bank of New York Mellon by 17.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,849,353 shares of the bank’s stock worth $96,259,000 after buying an additional 280,034 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’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 transaction, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of several analyst reports. Evercore ISI increased 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 report on Monday, July 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Citigroup upped their price objective on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Barclays lifted their target price on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, The Goldman Sachs Group raised their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.38.

Bank of New York Mellon Stock Up 1.6 %

BK opened at $71.98 on Friday. The company has a market cap of $53.83 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.24 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 one year low of $39.66 and a one year high of $73.19. The business’s fifty day moving average is $67.46 and its two-hundred day moving average is $61.83.

Bank of New York Mellon (NYSE:BK) last announced its 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 company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the business posted $1.38 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts anticipate 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 business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were given a dividend of $0.47 per share. 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. This represents a $1.88 annualized dividend and a yield of 2.61%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 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.