Rathbones Group PLC Has $5.93 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Rathbones Group PLC boosted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,940 shares of the bank’s stock after purchasing an additional 417 shares during the quarter. Rathbones Group PLC’s holdings in Bank of New York Mellon were worth $5,926,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BK. Olistico Wealth LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $30,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $32,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $32,000. Family Firm Inc. acquired a new stake in shares of Bank of New York Mellon in the second quarter worth $40,000. Finally, Blue Trust Inc. increased its position in Bank of New York Mellon by 86.9% during the second quarter. Blue Trust Inc. now owns 856 shares of the bank’s stock worth $49,000 after acquiring an additional 398 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.5 %

Shares of Bank of New York Mellon stock opened at $68.70 on Monday. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $69.74. The stock has a market capitalization of $50.70 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. The company has a 50-day simple moving average of $64.99 and a 200 day simple moving average of $60.17. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.85.

Bank of New York Mellon (NYSE:BK) last posted its earnings results 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 company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.53 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. Bank of New York Mellon’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts expect that The Bank of New York Mellon Co. will post 5.63 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Investors of record on Monday, July 22nd were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, July 22nd. Bank of New York Mellon’s payout ratio is currently 43.52%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were 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 in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BK shares. 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. Evercore ISI upped their price target on 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. Deutsche Bank Aktiengesellschaft lifted their price objective on Bank of New York Mellon from $63.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Citigroup cut Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research report on Monday, July 15th. Finally, Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $66.14.

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.