Natixis Buys 14,023 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Natixis grew its stake in The Bank of New York Mellon Co. (NYSE:BK) by 22.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,106 shares of the bank’s stock after acquiring an additional 14,023 shares during the quarter. Natixis’ holdings in Bank of New York Mellon were worth $4,443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wetzel Investment Advisors Inc. grew its position in shares of Bank of New York Mellon by 82.1% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after purchasing an additional 230 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $28,000. Able Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at approximately $32,000. Finally, Hartford Financial Management Inc. grew its position in shares of Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares during the period. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Jefferies Financial Group upped their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Bank of America upped their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price target (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Evercore ISI upped their price target on Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Finally, Citigroup downgraded Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $65.23.

Bank of New York Mellon Stock Up 0.7 %

BK opened at $65.28 on Friday. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $65.90. The stock’s fifty day simple moving average is $60.27 and its 200 day simple moving average is $57.40. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The stock has a market cap 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.

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

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be given a dividend of $0.47 per share. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 2.88%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Insiders Place Their Bets

In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,410,363.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the sale, the vice president now directly owns 144,721 shares in the company, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold 36,858 shares of company stock worth $2,223,504 in the last 90 days. Company insiders own 0.14% of the company’s stock.

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.