Diversified Trust Co Decreases Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Diversified Trust Co trimmed its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 28.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 32,181 shares of the bank’s stock after selling 12,543 shares during the period. Diversified Trust Co’s holdings in Bank of New York Mellon were worth $1,927,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. M&G Plc lifted its position in shares of Bank of New York Mellon by 2.8% during the second quarter. M&G Plc now owns 984,060 shares of the bank’s stock valued at $59,044,000 after buying an additional 26,417 shares during the last quarter. Wedmont Private Capital raised its position in shares of Bank of New York Mellon by 13.9% in the 2nd quarter. Wedmont Private Capital now owns 5,231 shares of the bank’s stock valued at $338,000 after purchasing an additional 640 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Bank of New York Mellon by 3.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,699 shares of the bank’s stock valued at $1,060,000 after purchasing an additional 646 shares during the last quarter. LVW Advisors LLC raised its position in shares of Bank of New York Mellon by 1.4% in the 2nd quarter. LVW Advisors LLC now owns 14,058 shares of the bank’s stock valued at $842,000 after purchasing an additional 196 shares during the last quarter. Finally, Aspire Private Capital LLC raised its position in shares of Bank of New York Mellon by 6.8% in the 2nd quarter. Aspire Private Capital LLC now owns 22,920 shares of the bank’s stock valued at $1,373,000 after purchasing an additional 1,450 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In related news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon 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 sale, the vice president now owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BK has been the subject of several research analyst reports. Morgan Stanley increased their price objective on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Monday, July 15th. Citigroup lowered shares of 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. Barclays raised their price target on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $65.86.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.44 during midday trading on Wednesday, reaching $63.99. 167,630 shares of the stock were exchanged, compared to its average volume of 3,829,859. The firm has a market cap of $47.85 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.14 and a beta of 1.09. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $65.90. The firm has a 50-day simple moving average of $61.51 and a two-hundred day simple moving average of $58.29. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.38 EPS. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 5.6 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors 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 2.94%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 43.52%.

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.