GM Advisory Group LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

GM Advisory Group LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,867 shares of the bank’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in Bank of New York Mellon by 72.8% in the 2nd quarter. Intech Investment Management LLC now owns 160,210 shares of the bank’s stock valued at $9,595,000 after purchasing an additional 67,473 shares in the last quarter. ProVise Management Group LLC lifted its holdings in Bank of New York Mellon by 1.9% in the 2nd quarter. ProVise Management Group LLC now owns 100,696 shares of the bank’s stock valued at $6,031,000 after purchasing an additional 1,893 shares in the last quarter. XTX Topco Ltd lifted its holdings in Bank of New York Mellon by 95.7% in the 2nd quarter. XTX Topco Ltd now owns 25,427 shares of the bank’s stock valued at $1,523,000 after purchasing an additional 12,432 shares in the last quarter. Blair William & Co. IL lifted its holdings in Bank of New York Mellon by 10.7% in the 2nd quarter. Blair William & Co. IL now owns 23,691 shares of the bank’s stock valued at $1,419,000 after purchasing an additional 2,298 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Bank of New York Mellon by 7.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 86,502 shares of the bank’s stock valued at $5,176,000 after purchasing an additional 6,033 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays raised their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Morgan Stanley lifted their price target on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Citigroup lifted their price target on Bank of New York Mellon from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Evercore ISI lifted 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $66.59.

Bank of New York Mellon Stock Up 0.1 %

Shares of NYSE:BK opened at $71.82 on Friday. The business has a 50-day moving average price of $65.98 and a 200 day moving average price of $60.65. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $53.71 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 1.17 and a beta of 1.08. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $71.96.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data 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. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.38 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.63 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 given a $0.47 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, July 18th. The stock was 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 directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.