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

Venturi Wealth Management LLC lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 21.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,147 shares of the bank’s stock after buying an additional 203 shares during the period. Venturi Wealth Management LLC’s holdings in Bank of New York Mellon were worth $82,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BK. Empowered Funds LLC grew its stake in shares of Bank of New York Mellon by 28.1% during the 1st quarter. Empowered Funds LLC now owns 10,620 shares of the bank’s stock valued at $612,000 after purchasing an additional 2,328 shares during the period. Blair William & Co. IL increased its stake in shares of Bank of New York Mellon by 1.6% in the 1st quarter. Blair William & Co. IL now owns 21,393 shares of the bank’s stock worth $1,233,000 after purchasing an additional 338 shares in the last quarter. Tocqueville Asset Management L.P. raised its holdings in Bank of New York Mellon by 4.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 13,492 shares of the bank’s stock worth $777,000 after purchasing an additional 528 shares during the period. M&G Plc purchased a new position in Bank of New York Mellon during the first quarter valued at $55,543,000. Finally, Councilmark Asset Management LLC bought a new stake in Bank of New York Mellon during the first quarter valued at about $1,504,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

NYSE BK opened at $77.58 on Friday. The company has a market cap of $56.41 billion, a P/E ratio of 16.87, a P/E/G ratio of 0.90 and a beta of 1.07. The business’s 50 day moving average price is $73.56 and its 200-day moving average price is $65.66. The Bank of New York Mellon Co. has a fifty-two week low of $46.04 and a fifty-two week high of $80.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Friday, October 11th. The bank reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. Bank of New York Mellon had a net margin of 9.44% and a return on equity of 12.06%. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.52 billion. Sell-side analysts predict that The Bank of New York Mellon Co. will post 5.82 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Monday, October 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, October 21st. Bank of New York Mellon’s payout ratio is currently 40.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BK shares. UBS Group lifted their price objective on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays upped their price target on shares of Bank of New York Mellon from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. StockNews.com downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $79.00 price objective on shares of Bank of New York Mellon in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.08.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.31, for a total transaction of $1,907,750.00. Following the transaction, the executive vice president now directly owns 75,404 shares of the company’s stock, valued at approximately $5,754,079.24. This trade represents a 24.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Hanneke Smits sold 16,475 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.47, for a total value of $1,259,843.25. Following the completion of the sale, the vice president now owns 157,455 shares of the company’s stock, valued at $12,040,583.85. The trade was a 9.47 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate 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.