Twin Capital Management Inc. Has $1.78 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Twin Capital Management Inc. cut its stake in The Bank of New York Mellon Co. (NYSE:BK) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,807 shares of the bank’s stock after selling 2,320 shares during the period. Twin Capital Management Inc.’s holdings in Bank of New York Mellon were worth $1,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BK. Nordea Investment Management AB boosted its stake in shares of Bank of New York Mellon by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 53,420 shares of the bank’s stock valued at $2,783,000 after purchasing an additional 1,037 shares during the last quarter. BKM Wealth Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter valued at $81,000. HB Wealth Management LLC boosted its position in Bank of New York Mellon by 39.6% during the fourth quarter. HB Wealth Management LLC now owns 11,484 shares of the bank’s stock valued at $598,000 after acquiring an additional 3,260 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in Bank of New York Mellon by 17.7% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,856 shares of the bank’s stock worth $97,000 after acquiring an additional 279 shares during the period. Finally, LVW Advisors LLC raised its position in shares of Bank of New York Mellon by 113.4% in the 4th quarter. LVW Advisors LLC now owns 11,011 shares of the bank’s stock worth $573,000 after acquiring an additional 5,851 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon 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 completion of the transaction, the vice president now directly owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now owns 24,346 shares in the company, valued at $1,410,363.78. The disclosure for this sale can be found here. Insiders sold 36,858 shares of company stock worth $2,223,504 in the last quarter. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BK. Keefe, Bruyette & Woods restated an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday, July 15th. Barclays lifted their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Jefferies Financial Group increased their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.23.

Bank of New York Mellon Stock Up 0.4 %

Shares of Bank of New York Mellon stock traded up $0.27 during trading hours on Wednesday, reaching $63.90. The company’s stock had a trading volume of 3,766,333 shares, compared to its average volume of 3,827,839. The company has a market capitalization of $47.79 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.12 and a beta of 1.09. The stock’s fifty day simple moving average is $60.15 and its two-hundred day simple moving average is $57.35. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $65.90. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations 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 business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $1.38 EPS. On average, research analysts forecast that The Bank of New York Mellon Co. will post 5.58 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be given a $0.47 dividend. The ex-dividend date is Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.94%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is currently 43.52%.

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.