The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 782,957 shares of the bank’s stock after selling 9,342 shares during the period. Bank of New York Mellon comprises approximately 1.8% of Private Management Group Inc.’s portfolio, making the stock its 5th largest position. Private Management Group Inc. owned 0.10% of Bank of New York Mellon worth $46,891,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BK. First Foundation Advisors increased its stake in shares of Bank of New York Mellon by 7.7% in the second quarter. First Foundation Advisors now owns 7,024 shares of the bank’s stock valued at $421,000 after buying an additional 500 shares during the period. LSV Asset Management increased its position in Bank of New York Mellon by 3.9% during the 2nd quarter. LSV Asset Management now owns 7,569,133 shares of the bank’s stock valued at $453,315,000 after purchasing an additional 286,820 shares during the period. Ballentine Partners LLC raised its holdings in Bank of New York Mellon by 11.0% during the 2nd quarter. Ballentine Partners LLC now owns 18,945 shares of the bank’s stock worth $1,135,000 after purchasing an additional 1,880 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Bank of New York Mellon by 629.2% in the 2nd quarter. Acadian Asset Management LLC now owns 386,401 shares of the bank’s stock valued at $23,136,000 after purchasing an additional 333,412 shares during the last quarter. Finally, Chris Bulman Inc acquired a new stake in shares of Bank of New York Mellon during the second quarter worth $139,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,000 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Citigroup cut Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research note on Monday, July 15th. Barclays increased their price target on 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bank of New York Mellon from $63.00 to $66.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI raised their price target on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.14.

Bank of New York Mellon Stock Down 2.3 %

Shares of NYSE BK opened at $66.41 on Monday. 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 50-day moving average price of $64.20 and a 200-day moving average price of $59.72. The stock has a market capitalization of $49.01 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.14 and a beta of 1.08. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $68.60.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. 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 11.87% and a net margin of 9.40%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.63 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were given a $0.47 dividend. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is presently 43.52%.

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.