Varma Mutual Pension Insurance Co Lowers Stake in The Bank of New York Mellon Co. (NYSE:BK)

Varma Mutual Pension Insurance Co lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,290 shares of the bank’s stock after selling 12,610 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Bank of New York Mellon were worth $15,409,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Bank of New York Mellon by 4.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock worth $231,000 after buying an additional 165 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Bank of New York Mellon by 3.8% in the second quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after buying an additional 171 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Bank of New York Mellon by 0.7% in the first quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock worth $1,633,000 after buying an additional 187 shares in the last quarter. 1858 Wealth Management LLC lifted its holdings in shares of Bank of New York Mellon by 4.0% in the second quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock worth $291,000 after buying an additional 188 shares in the last quarter. Finally, Semmax Financial Advisors Inc. raised its stake in 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 valued at $591,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BK. Citigroup downgraded 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. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Evercore ISI upped their price target on shares of 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. Barclays boosted their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, 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 report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.14.

Bank of New York Mellon Trading Down 2.3 %

NYSE BK opened at $66.41 on Monday. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $68.60. The company’s 50-day moving average price is $64.20 and its 200-day moving average price is $59.72. The stock has a market cap of $49.66 billion, a PE ratio of 15.37, a PEG ratio of 1.18 and a beta of 1.08. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85.

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 company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were paid a $0.47 dividend. The ex-dividend date was Monday, July 22nd. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.83%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Buying and Selling

In related 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 shares were sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Company 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.