M&R Capital Management Inc. Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

M&R Capital Management Inc. increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,352 shares of the bank’s stock after acquiring an additional 1,291 shares during the quarter. M&R Capital Management Inc.’s holdings in Bank of New York Mellon were worth $1,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Entropy Technologies LP bought a new position in Bank of New York Mellon in the first quarter worth $1,027,000. QRG Capital Management Inc. lifted its position in Bank of New York Mellon by 6.9% during the 1st quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock valued at $7,351,000 after acquiring an additional 8,204 shares during the period. Wakefield Asset Management LLLP bought a new stake in Bank of New York Mellon during the first quarter worth about $3,740,000. Bessemer Group Inc. increased its stake in shares of Bank of New York Mellon by 128.8% during the first quarter. Bessemer Group Inc. now owns 30,755 shares of the bank’s stock valued at $1,771,000 after purchasing an additional 17,312 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in shares of Bank of New York Mellon by 42.8% during the fourth quarter. Cibc World Markets Corp now owns 178,631 shares of the bank’s stock valued at $9,298,000 after purchasing an additional 53,552 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction 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 sale, the vice president now 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 can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 0.2 %

Shares of Bank of New York Mellon stock opened at $70.95 on Thursday. 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. 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 company has a market capitalization of $53.06 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.24 and a beta of 1.08. The company has a fifty day moving average of $67.20 and a 200 day moving average of $61.60.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping 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 in the prior year, the company posted $1.38 earnings per share. On average, sell-side analysts anticipate 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were given a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a dividend yield of 2.65%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Wall Street Analyst Weigh In

BK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their price objective for the company from $66.00 to $80.00 in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price target on Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Barclays increased their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Morgan Stanley boosted their target price on Bank of New York Mellon from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Monday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.38.

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.