The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 8.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,841,378 shares of the bank’s stock after selling 180,956 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.25% of Bank of New York Mellon worth $110,280,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. United Services Automobile Association raised its stake in shares of Bank of New York Mellon by 6.9% in the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after purchasing an additional 1,640 shares in the last quarter. Entropy Technologies LP acquired a new stake in Bank of New York Mellon during the first quarter valued at approximately $1,027,000. QRG Capital Management Inc. lifted its holdings 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 worth $7,351,000 after buying an additional 8,204 shares during the last quarter. Searle & CO. acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $234,000. Finally, Wakefield Asset Management LLLP bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $3,740,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on BK shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Evercore ISI lifted their target price on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Citigroup downgraded 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. Finally, Morgan Stanley upped their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.14.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Up 1.0 %

Shares of BK stock opened at $65.61 on Monday. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $65.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70. The business’s fifty day moving average is $61.82 and its 200-day moving average is $58.48. The stock has a market cap of $49.06 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company earned $1.38 earnings per share. Bank of New York Mellon’s revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that The Bank of New York Mellon Co. will post 5.6 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.87%. Bank of New York Mellon’s dividend payout ratio is currently 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.