Blue Trust Inc. Has $442,000 Stake in The Bank of New York Mellon Corporation $BK

Blue Trust Inc. lifted its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,848 shares of the bank’s stock after purchasing an additional 434 shares during the period. Blue Trust Inc.’s holdings in Bank of New York Mellon were worth $442,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BK. Opal Wealth Advisors LLC acquired a new position in Bank of New York Mellon in the first quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in Bank of New York Mellon in the first quarter valued at about $25,000. Cornerstone Planning Group LLC grew its holdings in Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after purchasing an additional 196 shares during the period. Orion Capital Management LLC bought a new stake in Bank of New York Mellon in the first quarter valued at approximately $32,000. Finally, Hoey Investments Inc. acquired a new stake in Bank of New York Mellon in the second quarter worth $32,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the sale, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of several research analyst reports. Citigroup upped their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Evercore ISI upped their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Wells Fargo & Company upped their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. BMO Capital Markets initiated coverage on Bank of New York Mellon in a research report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target for the company. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.77.

Bank of New York Mellon Stock Performance

Shares of NYSE BK opened at $106.26 on Tuesday. The stock has a 50 day moving average price of $105.19 and a 200 day moving average price of $93.97. The Bank of New York Mellon Corporation has a 52 week low of $70.46 and a 52 week high of $110.87. 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 stock has a market capitalization of $74.94 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13.

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

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.