The Bank of New York Mellon Corporation $BK Shares Sold by JNBA Financial Advisors

JNBA Financial Advisors cut its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 6.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,887 shares of the bank’s stock after selling 330 shares during the quarter. JNBA Financial Advisors’ holdings in Bank of New York Mellon were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. grew its holdings in shares of Bank of New York Mellon by 1.9% during the first quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank’s stock worth $1,010,093,000 after buying an additional 221,613 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Bank of New York Mellon during the first quarter worth about $773,627,000. Invesco Ltd. grew its holdings in shares of Bank of New York Mellon by 8.8% during the first quarter. Invesco Ltd. now owns 8,264,176 shares of the bank’s stock worth $693,116,000 after buying an additional 667,966 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Bank of New York Mellon by 5.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,125,577 shares of the bank’s stock worth $681,492,000 after buying an additional 436,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Bank of New York Mellon by 26.3% in the first quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock valued at $423,858,000 after purchasing an additional 1,052,145 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 2.1%

Shares of BK stock opened at $104.63 on Friday. The stock has a market cap of $73.79 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87. The firm’s 50 day moving average price is $105.10 and its two-hundred day moving average price is $93.68.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. On average, analysts anticipate 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 company also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, July 25th. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is presently 32.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BK shares. Citigroup boosted their target price 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. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. BMO Capital Markets started 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 target price for the company. Finally, Keefe, Bruyette & Woods boosted 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 report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $106.77.

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.