The Bank of New York Mellon Corporation $BK Stock Holdings Lifted by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 4.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 455,186 shares of the bank’s stock after buying an additional 19,883 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Bank of New York Mellon worth $38,176,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BK. Opal Wealth Advisors LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter worth about $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Bank of New York Mellon in the first quarter worth about $25,000. REAP Financial Group LLC lifted its position in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after buying an additional 218 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock worth $30,000 after buying an additional 196 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Bank of New York Mellon in the first quarter worth about $32,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 0.7%

Bank of New York Mellon stock opened at $104.80 on Wednesday. The business has a 50 day moving average price of $100.35 and a two-hundred day moving average price of $90.13. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The stock has a market cap of $73.91 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.14. The Bank of New York Mellon Corporation has a 12 month low of $66.01 and a 12 month high of $106.57.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 EPS for the quarter, beating the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The firm had revenue of $4.77 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the firm posted $1.51 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, July 25th. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s payout ratio is currently 32.37%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial boosted their price target on Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Wells Fargo & Company increased their target price on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. Citigroup increased their target price on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, September 5th. Morgan Stanley increased their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods increased their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $96.62.

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.