Geneos Wealth Management Inc. Raises Position in The Bank of New York Mellon Co. (NYSE:BK)

Geneos Wealth Management Inc. increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 17.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,528 shares of the bank’s stock after purchasing an additional 805 shares during the period. Geneos Wealth Management Inc.’s holdings in Bank of New York Mellon were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $813,701,000. Vanguard Group Inc. increased its position in shares of Bank of New York Mellon by 6.1% in the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after buying an additional 4,293,751 shares in the last quarter. KBC Group NV raised its stake in shares of Bank of New York Mellon by 217.0% during the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after buying an additional 1,046,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Bank of New York Mellon by 153.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after acquiring an additional 941,193 shares during the last quarter. Finally, Putnam Investments LLC increased its holdings in Bank of New York Mellon by 224.9% during the 4th quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock valued at $52,105,000 after acquiring an additional 692,910 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 3.5 %

BK stock opened at $63.63 on Friday. The company has a market cap of $47.58 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.23 and a beta of 1.09. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $59.04 and a 200-day simple moving average of $56.56. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $63.63.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 EPS. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 5.47 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 22nd will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.95%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio is 40.98%.

Analysts Set New Price Targets

BK has been the topic of several research reports. Evercore ISI reiterated an “in-line” rating and issued a $61.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, July 3rd. Bank of America boosted their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Jefferies Financial Group lifted their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Keefe, Bruyette & Woods upgraded shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and upped their target price for the company from $60.00 to $70.00 in a report on Thursday, June 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $61.15.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares in the company, valued at $8,343,165.65. The disclosure for this sale can be found here. In the last three months, insiders sold 115,928 shares of company stock valued at $6,475,216. Company insiders own 0.14% of the company’s stock.

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.