Axiom Advisory LLC Boosts Stake in The Bank of New York Mellon Co. (NYSE:BK)

Axiom Advisory LLC lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,600 shares of the bank’s stock after purchasing an additional 400 shares during the quarter. Axiom Advisory LLC’s holdings in Bank of New York Mellon were worth $1,684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BK. Commerzbank Aktiengesellschaft FI lifted its stake in Bank of New York Mellon by 4.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 3,847 shares of the bank’s stock worth $231,000 after purchasing an additional 165 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in Bank of New York Mellon by 3.8% during the 2nd quarter. Lake Street Advisors Group LLC now owns 4,698 shares of the bank’s stock worth $281,000 after acquiring an additional 171 shares in the last quarter. Greenleaf Trust boosted its holdings in Bank of New York Mellon by 0.7% during the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after acquiring an additional 187 shares during the period. 1858 Wealth Management LLC grew its position in Bank of New York Mellon by 4.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 4,866 shares of the bank’s stock valued at $291,000 after acquiring an additional 188 shares in the last quarter. Finally, Semmax Financial Advisors Inc. lifted its position in shares of 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 worth $591,000 after purchasing an additional 189 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

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 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 sale, the vice president now directly owns 173,930 shares of the company’s stock, valued at $11,150,652.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Bank of New York Mellon from $69.00 to $77.00 and gave the company an “overweight” rating in a report on Monday. Citigroup raised their target price on shares of Bank of New York Mellon from $65.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. The Goldman Sachs Group raised their price objective on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, UBS Group increased their target price on Bank of New York Mellon from $73.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.92.

Bank of New York Mellon Trading Up 1.0 %

NYSE:BK opened at $73.19 on Wednesday. The company has a market capitalization of $54.73 billion, a PE ratio of 16.94, a P/E/G ratio of 1.24 and a beta of 1.08. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $73.35. The stock’s 50 day moving average price is $67.61 and its 200 day moving average price is $61.97. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last announced 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 net margin of 9.40% and a return on equity of 11.87%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same period last year, the firm posted $1.38 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts anticipate 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 firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a dividend yield of 2.57%. Bank of New York Mellon’s dividend payout ratio is 43.52%.

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.