Kintegral Advisory LLC Cuts Stock Holdings in The Bank of New York Mellon Corporation $BK

Kintegral Advisory LLC reduced its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 0.2% during the 2nd quarter, Holdings Channel reports. The fund owned 105,730 shares of the bank’s stock after selling 159 shares during the quarter. Bank of New York Mellon makes up approximately 0.9% of Kintegral Advisory LLC’s investment portfolio, making the stock its 23rd biggest position. Kintegral Advisory LLC’s holdings in Bank of New York Mellon were worth $9,633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon during the first quarter worth about $25,000. Alpine Bank Wealth Management purchased a new position in shares of Bank of New York Mellon in the 1st quarter valued at $25,000. Cornerstone Planning Group LLC lifted its position in 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 valued at $30,000 after acquiring an additional 196 shares during the last quarter. Orion Capital Management LLC acquired a new position in Bank of New York Mellon in the first quarter valued at $32,000. Finally, Hoey Investments Inc. acquired a new stake in shares of Bank of New York Mellon during the second quarter worth about $32,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the sale, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $104.63 on Monday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $110.87. The firm has a 50 day moving average price of $105.10 and a 200 day moving average price of $93.80. The company has a market cap of $73.79 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm had revenue of $4.38 billion during the quarter. Sell-side analysts predict that The Bank of New York Mellon Corporation will post 6.96 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 Thursday, August 7th. Shareholders of record on Friday, July 25th were paid a dividend of $0.53 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, July 25th. Bank of New York Mellon’s payout ratio is presently 32.37%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. TD Cowen initiated coverage on shares of Bank of New York Mellon in a report on Thursday, September 25th. They set a “buy” rating for the company. Finally, Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.77.

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.