Venturi Wealth Management LLC Invests $192,000 in The Bank of New York Mellon Corporation $BK

Venturi Wealth Management LLC purchased a new position in shares of The Bank of New York Mellon Corporation (NYSE:BK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,107 shares of the bank’s stock, valued at approximately $192,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Shell Asset Management Co. boosted its holdings in Bank of New York Mellon by 23.2% during the second quarter. Shell Asset Management Co. now owns 61,354 shares of the bank’s stock worth $5,590,000 after buying an additional 11,571 shares in the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Bank of New York Mellon by 4.1% during the second quarter. KLP Kapitalforvaltning AS now owns 387,710 shares of the bank’s stock worth $35,324,000 after buying an additional 15,100 shares in the last quarter. Bennett Associates Wealth Management purchased a new stake in Bank of New York Mellon during the second quarter worth about $276,000. SteelPeak Wealth LLC boosted its holdings in Bank of New York Mellon by 1,270.5% during the second quarter. SteelPeak Wealth LLC now owns 47,364 shares of the bank’s stock worth $4,315,000 after buying an additional 43,908 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. boosted its holdings in Bank of New York Mellon by 5.2% during the second quarter. Mraz Amerine & Associates Inc. now owns 20,370 shares of the bank’s stock worth $1,856,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Down 2.1%

BK stock opened at $104.63 on Friday. The stock has a market capitalization of $73.79 billion, a P/E ratio of 15.97, a PEG ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $110.87. The company has a 50 day moving average price of $105.10 and a two-hundred day moving average price of $93.74.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The company had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. As a group, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were issued a $0.53 dividend. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon’s payout ratio is presently 32.37%.

Analyst Ratings Changes

BK has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday. Keefe, Bruyette & Woods upped their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Finally, BMO Capital Markets began coverage on shares of Bank of New York Mellon in a report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $106.77.

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.