PGGM Investments Raises Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

PGGM Investments lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,368 shares of the bank’s stock after acquiring an additional 9,119 shares during the period. PGGM Investments’ holdings in Bank of New York Mellon were worth $11,401,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Greenleaf Trust increased its stake in Bank of New York Mellon by 0.7% in the first quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after purchasing an additional 187 shares during the period. Semmax Financial Advisors Inc. grew its holdings in shares of Bank of New York Mellon by 1.9% during the first quarter. Semmax Financial Advisors Inc. now owns 10,214 shares of the bank’s stock worth $591,000 after buying an additional 189 shares during the last quarter. Vivaldi Capital Management LP increased its position in Bank of New York Mellon by 3.3% in the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after acquiring an additional 192 shares during the period. LVW Advisors LLC lifted its position in Bank of New York Mellon by 1.4% during the 2nd quarter. LVW Advisors LLC now owns 14,058 shares of the bank’s stock worth $842,000 after acquiring an additional 196 shares during the period. Finally, Certuity LLC grew its stake in shares of Bank of New York Mellon by 2.3% in the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after purchasing an additional 205 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction that occurred on 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 $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BK shares. Evercore ISI increased their price target on 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. 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 research note on Monday, July 15th. Bank of America raised their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Jefferies Financial Group boosted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Bank of New York Mellon Price Performance

Shares of NYSE BK traded up $0.56 on Wednesday, hitting $64.11. The company’s stock had a trading volume of 2,791,028 shares, compared to its average volume of 3,846,676. The stock has a 50 day moving average of $61.61 and a 200-day moving average of $58.33. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $65.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter in the prior year, the company earned $1.38 EPS. Bank of New York Mellon’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that The Bank of New York Mellon Co. will post 5.6 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.93%. This is a positive change 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%.

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.