Meeder Advisory Services Inc. lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK – Free Report) by 33.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,688 shares of the bank’s stock after purchasing an additional 4,393 shares during the period. Meeder Advisory Services Inc.’s holdings in Bank of New York Mellon were worth $1,059,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of the business. Olistico Wealth LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $30,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth $28,000. Kathleen S. Wright Associates Inc. purchased a new position in Bank of New York Mellon during the first quarter valued at $32,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $32,000. Finally, Family Firm Inc. purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $40,000. Institutional investors and hedge funds own 85.31% of the company’s stock.
Bank of New York Mellon Price Performance
Shares of BK stock opened at $68.70 on Friday. 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 capitalization of $50.70 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The firm’s 50-day moving average is $64.99 and its two-hundred day moving average is $60.11. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $69.74.
Bank of New York Mellon Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.74%. 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. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.
Analyst Ratings Changes
BK has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Citigroup lowered 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 increased their price objective on 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 lifted their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have given 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 a consensus target price of $66.14.
View Our Latest Research Report on Bank of New York Mellon
Insider Activity at Bank of New York Mellon
In other news, VP Hanneke Smits sold 15,000 shares of the business’s 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available through 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.
Further Reading
- Five stocks we like better than Bank of New York Mellon
- What is a Low P/E Ratio and What Does it Tell Investors?
- Powering Your Portfolio: The Utility Sector’s Electrifying Surge
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- Adobe Stock Builds Long-Term Value: Consider Buying on the Dip
- What Are Growth Stocks and Investing in Them
- Albemarle Jumps as Lithium Stock Buying Frenzy Takes Off
Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BK – Free Report).
Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.