Meeder Advisory Services Inc. Boosts Stake in The Bank of New York Mellon Co. (NYSE:BK)

Meeder Advisory Services Inc. lifted its holdings in The Bank of New York Mellon Co. (NYSE:BK) 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 (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating the consensus estimate of $1.43 by $0.08. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. Analysts predict that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current year.

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.

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.