SkyView Investment Advisors LLC Has $567,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

SkyView Investment Advisors LLC boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 11.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,469 shares of the bank’s stock after purchasing an additional 983 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after buying an additional 4,293,751 shares in the last quarter. Marshall Wace LLP grew its position in 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 during the last quarter. KBC Group NV increased its holdings in Bank of New York Mellon by 217.0% during the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock valued at $79,558,000 after purchasing an additional 1,046,298 shares in the last quarter. Panagora Asset Management Inc. raised its position in Bank of New York Mellon by 6,040.9% in the 2nd 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 bought a new position in Bank of New York Mellon in the 1st quarter valued at $55,543,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $71.70 on Friday. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $73.19. 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 $53.62 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.24 and a beta of 1.08. The firm has a fifty day moving average of $66.74 and a two-hundred day moving average of $61.25.

Bank of New York Mellon (NYSE:BK) last released 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 firm had revenue of $4.60 billion for 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 earnings per share. As a group, equities research analysts predict 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 company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.62%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is currently 43.52%.

Analysts Set New Price Targets

Several brokerages have recently commented on BK. Morgan Stanley increased their target price on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Evercore ISI increased 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 report on Monday, July 15th. The Goldman Sachs Group boosted their target price on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and increased their price target for the company from $66.00 to $80.00 in a research note on Monday, September 23rd. Finally, 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 report on Monday, July 15th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.88.

About Bank of New York Mellon

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.