Benson Investment Management Company Inc. Has $5.69 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Benson Investment Management Company Inc. trimmed its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 0.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,483 shares of the bank’s stock after selling 221 shares during the quarter. Bank of New York Mellon comprises about 2.2% of Benson Investment Management Company Inc.’s holdings, making the stock its 13th biggest position. Benson Investment Management Company Inc.’s holdings in Bank of New York Mellon were worth $5,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of BK. Aberdeen Group plc lifted its stake in shares of Bank of New York Mellon by 10.5% in the second quarter. Aberdeen Group plc now owns 676,637 shares of the bank’s stock valued at $61,608,000 after buying an additional 64,157 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in shares of Bank of New York Mellon by 12.5% in the second quarter. JFS Wealth Advisors LLC now owns 4,738 shares of the bank’s stock valued at $432,000 after buying an additional 527 shares in the last quarter. PDS Planning Inc lifted its stake in shares of Bank of New York Mellon by 12.5% in the second quarter. PDS Planning Inc now owns 4,119 shares of the bank’s stock valued at $375,000 after buying an additional 459 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Bank of New York Mellon by 9.8% in the second quarter. Blue Trust Inc. now owns 4,848 shares of the bank’s stock valued at $442,000 after buying an additional 434 shares in the last quarter. Finally, Endeavor Private Wealth Inc. lifted its stake in shares of Bank of New York Mellon by 5.4% in the second quarter. Endeavor Private Wealth Inc. now owns 14,908 shares of the bank’s stock valued at $1,358,000 after buying an additional 763 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Truist Financial boosted their price target on shares of Bank of New York Mellon from $109.00 to $118.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday. Morgan Stanley boosted their price target on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Finally, Citigroup boosted their price target on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.77.

Bank of New York Mellon Stock Down 2.1%

BK opened at $104.63 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The stock has a market cap of $73.79 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.00 and a beta of 1.13. The Bank of New York Mellon Corporation has a twelve month low of $70.46 and a twelve month high of $110.87. The company’s 50-day moving average price is $105.10 and its two-hundred day moving average price is $93.68.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. As a group, equities analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were paid a $0.53 dividend. The ex-dividend date was Friday, July 25th. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s dividend payout ratio is presently 32.37%.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the sale, the executive vice president directly owned 35,115 shares in the company, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

About Bank of New York Mellon

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.