Price T Rowe Associates Inc. MD Has $272.14 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Price T Rowe Associates Inc. MD decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 5.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,722,927 shares of the bank’s stock after selling 262,460 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Bank of New York Mellon were worth $272,136,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BK. Norges Bank purchased a new position in Bank of New York Mellon during the 4th quarter worth $813,701,000. Vanguard Group Inc. boosted its holdings in shares of Bank of New York Mellon by 6.1% in the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after buying an additional 4,293,751 shares during the last quarter. KBC Group NV boosted its holdings in shares of Bank of New York Mellon by 217.0% in the 4th quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock worth $79,558,000 after buying an additional 1,046,298 shares during the last quarter. M&G Plc purchased a new position in shares of Bank of New York Mellon in the 1st quarter worth about $55,543,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bank of New York Mellon by 153.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after buying an additional 941,193 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the completion of the transaction, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares of the company’s stock, valued at $11,150,652.30. The disclosure for this sale can be found here. Insiders sold 36,858 shares of company stock valued at $2,223,504 over the last quarter. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Up 0.8 %

Shares of Bank of New York Mellon stock traded up $0.54 on Friday, hitting $65.35. The stock had a trading volume of 3,898,661 shares, compared to its average volume of 4,424,193. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $65.90. The stock has a market cap of $48.87 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.16 and a beta of 1.09. The stock’s 50-day simple moving average is $60.39 and its two-hundred day simple moving average is $57.52.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The firm had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter last year, the business earned $1.38 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.58 EPS for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 22nd will be paid a $0.47 dividend. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.88 dividend on an annualized basis and a yield of 2.88%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Analysts Set New Price Targets

Several research firms have commented on BK. Deutsche Bank Aktiengesellschaft upped 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 report on Monday, July 15th. Barclays upped their price objective on shares of Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Bank of America upped their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price target (up from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target on the stock. in a 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 data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.23.

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.