1832 Asset Management L.P. Acquires 1,423 Shares of The Bank of New York Mellon Co. (NYSE:BK)

1832 Asset Management L.P. raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.1% during the first quarter, HoldingsChannel reports. The fund owned 47,120 shares of the bank’s stock after purchasing an additional 1,423 shares during the quarter. 1832 Asset Management L.P.’s holdings in Bank of New York Mellon were worth $2,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. boosted its position in shares of Bank of New York Mellon by 82.1% in the first quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after acquiring an additional 230 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $28,000. Able Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Bank of New York Mellon in the first quarter worth $32,000. Finally, Hartford Financial Management Inc. raised its position in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the transaction, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 sale, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the transaction, the vice president now owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,858 shares of company stock worth $2,223,504. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America boosted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley upped their price objective on shares of Bank of New York Mellon from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Jefferies Financial Group raised their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Evercore ISI boosted their price target 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 note on Monday, July 15th. Finally, Citigroup lowered shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.23.

Bank of New York Mellon Trading Up 0.8 %

Shares of NYSE:BK traded up $0.54 on Friday, reaching $65.35. 3,898,661 shares of the company traded hands, compared to its average volume of 4,424,193. The stock has a market capitalization of $48.87 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 1.15 and a beta of 1.09. The business’s 50-day simple moving average is $60.39 and its 200 day simple moving average is $57.52. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $65.90.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the company earned $1.38 EPS. Bank of New York Mellon’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.58 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.88%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is 43.52%.

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.