Point72 Europe London LLP Raises Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Point72 Europe London LLP grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 18.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 76,300 shares of the bank’s stock after buying an additional 12,100 shares during the quarter. Point72 Europe London LLP’s holdings in Bank of New York Mellon were worth $4,570,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after buying an additional 4,293,751 shares in the last quarter. Marshall Wace LLP raised its position in shares of Bank of New York Mellon by 99.4% during the 2nd quarter. Marshall Wace LLP now owns 2,631,213 shares of the bank’s stock worth $157,583,000 after acquiring an additional 1,311,969 shares in the last quarter. KBC Group NV lifted its stake in Bank of New York Mellon by 217.0% during the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after purchasing an additional 1,046,298 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Bank of New York Mellon by 6,040.9% in the second quarter. Panagora Asset Management Inc. now owns 1,037,806 shares of the bank’s stock valued at $62,154,000 after purchasing an additional 1,020,906 shares during the last quarter. Finally, M&G Plc acquired a new stake in Bank of New York Mellon during the first quarter worth approximately $55,543,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $71.82 on Wednesday. The firm has a market cap of $53.71 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $73.19. The firm’s fifty day moving average price is $66.24 and its 200 day moving average price is $60.95.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The business 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 net margin of 9.40% and a return on equity of 11.87%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. On average, 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 firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.62%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is 43.52%.

Insider Activity

In other Bank of New York Mellon 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 value of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BK shares. Morgan Stanley upped their target price 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 raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $80.00 in a report on Monday. Evercore ISI boosted their target price on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Barclays raised their price target on 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. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.86.

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.