Natixis Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Natixis lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 22.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 77,106 shares of the bank’s stock after buying an additional 14,023 shares during the period. Natixis’ holdings in Bank of New York Mellon were worth $4,443,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BK. HB Wealth Management LLC raised its stake in shares of Bank of New York Mellon by 39.6% during the 4th quarter. HB Wealth Management LLC now owns 11,484 shares of the bank’s stock worth $598,000 after buying an additional 3,260 shares during the period. Raymond James & Associates raised its stake in Bank of New York Mellon by 21.9% in the 4th quarter. Raymond James & Associates now owns 573,982 shares of the bank’s stock valued at $29,876,000 after purchasing an additional 102,983 shares during the last quarter. CVA Family Office LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $66,000. Raymond James Financial Services Advisors Inc. raised its stake in Bank of New York Mellon by 1.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 195,888 shares of the bank’s stock valued at $10,196,000 after purchasing an additional 1,878 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Bank of New York Mellon by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 52,069 shares of the bank’s stock valued at $2,710,000 after purchasing an additional 2,658 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 $11,150,652.30. The disclosure for this sale can be found here. Insiders have sold 36,858 shares of company stock valued at $2,223,504 over the last quarter. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on BK shares. 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 report on Monday, July 15th. Jefferies Financial Group increased their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. 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. Morgan Stanley increased their price target on Bank of New York Mellon from $63.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.23.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $65.28 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $65.90. The firm has a market capitalization of $48.82 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The stock’s 50-day simple moving average is $60.27 and its 200-day simple moving average is $57.40.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping the consensus estimate of $1.43 by $0.08. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.38 earnings per share. As a group, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.58 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 22nd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

Bank of New York Mellon Company 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.