Healthcare of Ontario Pension Plan Trust Fund Acquires 3,500 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.9% in the second quarter, HoldingsChannel reports. The firm owned 387,500 shares of the bank’s stock after acquiring an additional 3,500 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Bank of New York Mellon were worth $23,207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Olistico Wealth LLC bought a new stake in Bank of New York Mellon during the 2nd quarter valued at $30,000. Clearstead Trust LLC bought a new stake in Bank of New York Mellon during the 2nd quarter valued at $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Bank of New York Mellon during the 1st quarter valued at $32,000. Able Wealth Management LLC bought a new stake in 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 owned by institutional investors.

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 the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 0.2 %

Shares of BK stock opened at $70.82 on Friday. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $73.19. The stock’s fifty day moving average price is $67.33 and its 200 day moving average price is $61.66. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $52.96 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.24 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 the consensus estimate of $1.43 by $0.08. The firm had revenue of $4.60 billion for 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 firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 EPS. On average, research analysts expect 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 company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.65%. The ex-dividend date was Monday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is presently 43.52%.

Wall Street Analyst Weigh In

BK has been the subject of several recent research reports. Morgan Stanley boosted their price target 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. Deutsche Bank Aktiengesellschaft raised Bank of New York Mellon from a “hold” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Evercore ISI boosted 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 research report on Monday, July 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, Barclays boosted their price target on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.