The Bank of New York Mellon Co. (NYSE:BK) Position Lessened by Clarius Group LLC

Clarius Group LLC lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,731 shares of the bank’s stock after selling 283 shares during the quarter. Clarius Group LLC’s holdings in Bank of New York Mellon were worth $403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CGN Advisors LLC increased its position in Bank of New York Mellon by 19.8% during the second quarter. CGN Advisors LLC now owns 33,539 shares of the bank’s stock worth $2,009,000 after buying an additional 5,550 shares during the last quarter. Olistico Wealth LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter worth $30,000. First Bank & Trust acquired a new stake in shares of Bank of New York Mellon in the second quarter worth $205,000. Fulton Bank N.A. increased its position in Bank of New York Mellon by 25.7% during the second quarter. Fulton Bank N.A. now owns 22,386 shares of the bank’s stock worth $1,341,000 after acquiring an additional 4,572 shares during the period. Finally, Mather Group LLC. boosted its holdings in Bank of New York Mellon by 8.1% in the 2nd quarter. Mather Group LLC. now owns 7,985 shares of the bank’s stock valued at $460,000 after purchasing an additional 597 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

NYSE BK traded up $0.05 on Friday, hitting $63.46. 249,152 shares of the stock traded hands, compared to its average volume of 3,842,611. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $65.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70. The business’s fifty day moving average is $61.26 and its two-hundred day moving average is $58.07. The firm has a market capitalization of $47.46 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.14 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 EPS. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.6 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.96%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Analysts Set New Price Targets

A number of research analysts have issued reports on BK shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a report on Monday, July 15th. Jefferies Financial Group boosted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Barclays raised their price target on shares of 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. Finally, Morgan Stanley raised their target price on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.86.

Insider Activity at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by corporate 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.