The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Clarius Group LLC

Clarius Group LLC lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.0% in the second quarter, Holdings Channel.com reports. The fund owned 6,731 shares of the bank’s stock after selling 283 shares during the quarter. Clarius Group LLC’s holdings in Bank of New York Mellon were worth $403,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $813,701,000. Vanguard Group Inc. grew its stake in Bank of New York Mellon by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after acquiring an additional 4,293,751 shares in the last quarter. KBC Group NV increased its holdings in shares of Bank of New York Mellon by 217.0% in the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock valued at $79,558,000 after purchasing an additional 1,046,298 shares during the period. M&G Plc purchased a new stake in shares of Bank of New York Mellon in the first quarter worth approximately $55,543,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bank of New York Mellon by 153.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after purchasing an additional 941,193 shares during the period. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded up $0.05 on Friday, hitting $63.46. The company’s stock had a trading volume of 249,152 shares, compared to its average volume of 3,842,611. The firm has a market cap of $47.46 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. 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 fifty day moving average price of $61.26 and a 200-day moving average price of $58.07.

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. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.6 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a $0.47 dividend. The ex-dividend date was Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.96%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s payout ratio is presently 43.52%.

Wall Street Analyst Weigh In

BK has been the subject of a number of research reports. Citigroup cut Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research 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 company a “buy” rating in a report on Thursday, April 18th. Barclays raised their target price 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. Keefe, Bruyette & Woods reissued 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. Finally, Bank of America raised their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $65.86.

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.