DekaBank Deutsche Girozentrale Trims Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

DekaBank Deutsche Girozentrale decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,361 shares of the bank’s stock after selling 11,214 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bank of New York Mellon were worth $14,879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BK. Wetzel Investment Advisors Inc. boosted its position in shares of Bank of New York Mellon by 82.1% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock worth $28,000 after purchasing an additional 230 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at $28,000. Able Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new position in Bank of New York Mellon during the 1st quarter worth about $32,000. Finally, Hartford Financial Management Inc. grew its position in 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 acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a research report on Monday, July 15th. Jefferies Financial Group boosted their price objective 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. Evercore ISI raised their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $75.00 price objective (up from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, Citigroup cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.86.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares in the company, valued at $1,410,363.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the transaction, the vice president now owns 144,721 shares in the company, valued at $8,343,165.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The disclosure for this sale can be found here. Insiders have sold a total of 36,858 shares of company stock worth $2,223,504 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Performance

NYSE BK traded down $1.52 on Friday, reaching $63.12. The stock had a trading volume of 6,162,182 shares, compared to its average volume of 4,774,799. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.71 and a current ratio of 0.70. The stock has a market cap of $47.20 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The business’s 50-day moving average price is $60.95 and its 200 day moving average price is $57.86. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $65.90.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the prior year, the business earned $1.38 EPS. Bank of New York Mellon’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that The Bank of New York Mellon Co. will post 5.6 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were issued a $0.47 dividend. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a dividend yield of 2.98%. Bank of New York Mellon’s payout ratio is presently 43.52%.

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.