M.E. Allison & CO. Inc. Sells 582 Shares of The Bank of New York Mellon Corporation $BK

M.E. Allison & CO. Inc. lessened its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 12.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,253 shares of the bank’s stock after selling 582 shares during the period. M.E. Allison & CO. Inc.’s holdings in Bank of New York Mellon were worth $387,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hemington Wealth Management increased its holdings in Bank of New York Mellon by 6.3% in the second quarter. Hemington Wealth Management now owns 1,730 shares of the bank’s stock worth $157,000 after purchasing an additional 102 shares in the last quarter. Confluence Wealth Services Inc. increased its holdings in Bank of New York Mellon by 1.0% in the second quarter. Confluence Wealth Services Inc. now owns 11,761 shares of the bank’s stock worth $1,072,000 after purchasing an additional 111 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. increased its holdings in Bank of New York Mellon by 2.2% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,094 shares of the bank’s stock worth $464,000 after purchasing an additional 112 shares in the last quarter. Sax Wealth Advisors LLC increased its holdings in Bank of New York Mellon by 2.3% in the first quarter. Sax Wealth Advisors LLC now owns 5,278 shares of the bank’s stock worth $443,000 after purchasing an additional 117 shares in the last quarter. Finally, Y.D. More Investments Ltd increased its holdings in Bank of New York Mellon by 13.8% in the first quarter. Y.D. More Investments Ltd now owns 1,030 shares of the bank’s stock worth $86,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Bank of New York Mellon from $101.00 to $116.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Citigroup boosted their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Evercore ISI boosted their price objective on Bank of New York Mellon from $91.00 to $110.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. TD Cowen assumed coverage on Bank of New York Mellon in a report on Thursday, September 25th. They set a “buy” rating for the company. Finally, Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $106.77.

Bank of New York Mellon Trading Down 2.1%

Shares of Bank of New York Mellon stock opened at $104.63 on Monday. The stock has a fifty day simple moving average of $105.10 and a 200 day simple moving average of $93.80. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87. The company has a market capitalization of $73.79 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share (EPS) for the quarter. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The business had revenue of $4.38 billion during the quarter. On average, sell-side analysts anticipate that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.0%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. Bank of New York Mellon’s dividend payout ratio is currently 32.37%.

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.