XTX Topco Ltd Has $1.52 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

XTX Topco Ltd boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 95.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,427 shares of the bank’s stock after buying an additional 12,432 shares during the quarter. XTX Topco Ltd’s holdings in Bank of New York Mellon were worth $1,523,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $30,000. Clearstead Trust LLC bought a new position in Bank of New York Mellon in the second quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new stake in Bank of New York Mellon during the 1st quarter worth $32,000. Able Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $32,000. Finally, Family Firm Inc. bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth $40,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK opened at $71.71 on Friday. The firm’s 50 day moving average price is $65.83 and its two-hundred day moving average price is $60.53. 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 Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $71.92. The firm has a market cap of $53.63 billion, a P/E ratio of 16.60, a PEG ratio of 1.17 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced its earnings results 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. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the business earned $1.38 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.63 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, July 22nd. This is an increase 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 dividend yield of 2.62%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Analyst Ratings Changes

BK has been the subject of a number of recent analyst reports. Evercore ISI upped their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Barclays upped their price target 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. Morgan Stanley lifted their price objective on shares of 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Citigroup increased their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.59.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction 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 approximately $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

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.