Northwestern Mutual Wealth Management Co. Boosts Stake in The Bank of New York Mellon Co. (NYSE:BK)

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,093 shares of the bank’s stock after buying an additional 1,023 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Bank of New York Mellon were worth $2,221,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at $30,000. Able Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $32,000. Kathleen S. Wright Associates Inc. purchased a new stake in Bank of New York Mellon during the first quarter valued at $32,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon in the second quarter valued at about $32,000. Finally, Family Firm Inc. purchased a new position in Bank of New York Mellon in the second quarter worth about $40,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

BK opened at $71.99 on Friday. 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 stock has a market capitalization of $53.84 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 fifty day moving average of $67.46 and a 200 day moving average of $61.78. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $73.19.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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 firm had revenue of $4.60 billion during the quarter, compared to analyst estimates 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 business’s quarterly 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, sell-side 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 disclosed 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 annualized dividend and a dividend yield of 2.61%. This is a boost 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 is 43.52%.

Analysts Set New Price Targets

Several research firms have recently commented on BK. Citigroup upped their price target on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Barclays increased 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 research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the stock from $66.00 to $80.00 in a report on Monday, September 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, The Goldman Sachs Group raised their price objective on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.38.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the 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 completion of the transaction, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

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.