The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Simon Quick Advisors LLC

Simon Quick Advisors LLC boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.0% in the second quarter, HoldingsChannel reports. The firm owned 4,683 shares of the bank’s stock after buying an additional 265 shares during the period. Simon Quick Advisors LLC’s holdings in Bank of New York Mellon were worth $280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Bank of New York Mellon by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after purchasing an additional 4,293,751 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Bank of New York Mellon by 0.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock worth $1,030,254,000 after acquiring an additional 144,162 shares during the period. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $813,701,000. Dimensional Fund Advisors LP grew its position in shares of Bank of New York Mellon by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,758,152 shares of the bank’s stock valued at $351,775,000 after acquiring an additional 223,867 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Bank of New York Mellon by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,802,627 shares of the bank’s stock valued at $249,977,000 after purchasing an additional 70,146 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.4 %

BK stock opened at $68.00 on Friday. 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 firm has a 50-day moving average of $64.07 and a two-hundred day moving average of $59.58. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $68.54. The company has a market cap of $50.85 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.18 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. As a group, analysts forecast 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 company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share. 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 dividend yield of 2.76%. Bank of New York Mellon’s payout ratio is presently 43.52%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on 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. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research note 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 stock an “in-line” rating in a research report on Monday, July 15th. 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 research report on Monday, July 15th. Finally, Morgan Stanley upped their price target on shares of 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.14.

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 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

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.