Mn Services Vermogensbeheer B.V. Sells 8,700 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Mn Services Vermogensbeheer B.V. decreased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 298,316 shares of the bank’s stock after selling 8,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Bank of New York Mellon were worth $17,866,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BK. Wetzel Investment Advisors Inc. increased its stake in Bank of New York Mellon by 82.1% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after acquiring an additional 230 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth about $28,000. Olistico Wealth LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth approximately $30,000. Able Wealth Management LLC purchased a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $32,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Bank of New York Mellon in the 1st quarter worth approximately $32,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 1.4 %

BK traded up $0.91 during trading on Friday, hitting $66.40. 2,747,238 shares of the stock traded hands, compared to its average volume of 3,831,891. The firm has a 50-day moving average of $62.49 and a 200 day moving average of $58.82. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $66.53. The firm has a market capitalization of $49.65 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. Bank of New York Mellon’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.38 earnings per share. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.6 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. Investors of record on Monday, July 22nd were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend 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 dividend payout ratio is currently 43.52%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Evercore ISI raised their price objective on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Citigroup downgraded shares of 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. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.14.

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.