OFI Invest Asset Management Has $1.20 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

OFI Invest Asset Management lifted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,378 shares of the bank’s stock after buying an additional 457 shares during the period. OFI Invest Asset Management’s holdings in Bank of New York Mellon were worth $1,195,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $813,701,000. Vanguard Group Inc. boosted its position in Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock valued at $3,877,801,000 after purchasing an additional 4,293,751 shares during the last quarter. KBC Group NV grew its stake in Bank of New York Mellon by 217.0% in the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock valued at $79,558,000 after purchasing an additional 1,046,298 shares in the last quarter. M&G Plc acquired a new position in shares of Bank of New York Mellon during the 1st quarter worth approximately $55,543,000. Finally, Putnam Investments LLC raised its stake in shares of Bank of New York Mellon by 224.9% during the 4th quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock worth $52,105,000 after purchasing an additional 692,910 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $64.11, for a total transaction of $961,650.00. Following the sale, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Citigroup cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a research report on Thursday. Barclays raised their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $75.00 target price (up from $70.00) on shares of Bank of New York Mellon 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.14.

Bank of New York Mellon Stock Performance

BK stock traded up $0.63 during trading hours on Friday, hitting $65.61. 7,017,893 shares of the stock were exchanged, compared to its average volume of 3,866,519. The company has a 50-day simple moving average of $61.82 and a two-hundred day simple moving average of $58.46. The firm has a market capitalization of $49.06 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.14 and a beta of 1.09. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $65.90. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85.

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 (EPS) for the quarter, beating 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 the consensus estimate of $4.53 billion. During the same quarter in the previous year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.6 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio (DPR) is 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.