The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 99.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 930,275 shares of the bank’s stock after buying an additional 463,360 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Bank of New York Mellon were worth $53,271,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. United Services Automobile Association grew its stake in shares of Bank of New York Mellon by 6.9% in the fourth quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock worth $1,325,000 after acquiring an additional 1,640 shares in the last quarter. Entropy Technologies LP purchased a new stake in Bank of New York Mellon during the 1st quarter worth about $1,027,000. Searle & CO. purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $234,000. QRG Capital Management Inc. raised its holdings in Bank of New York Mellon by 6.9% during the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after purchasing an additional 8,204 shares in the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in Bank of New York Mellon in the first quarter valued at $3,740,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 1.2 %

Shares of Bank of New York Mellon stock traded down $0.79 during mid-day trading on Friday, hitting $62.69. 3,569,393 shares of the stock were exchanged, compared to its average volume of 4,521,677. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $46.88 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 1.12 and a beta of 1.09. The company has a 50-day simple moving average of $59.83 and a 200 day simple moving average of $57.10. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $65.90.

Bank of New York Mellon (NYSE:BK) last released 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. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. Bank of New York Mellon’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 earnings per share. Research analysts forecast that The Bank of New York Mellon Co. will post 5.58 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Monday, July 22nd will be paid a dividend of $0.47 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, July 22nd. This represents a $1.88 annualized dividend and a yield of 3.00%. Bank of New York Mellon’s payout ratio is 38.89%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Bank of New York Mellon from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Monday, July 15th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Citigroup cut shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research note on Monday, July 15th. Bank of America upped their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Finally, Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.23.

Insiders Place Their Bets

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the transaction, the insider now owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $64.11, for a total value of $961,650.00. Following the completion of the transaction, the vice president now directly owns 173,930 shares in the company, valued at $11,150,652.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the completion of the sale, the insider now directly owns 24,346 shares in the company, valued at approximately $1,410,363.78. The disclosure for this sale can be found here. Insiders have sold 36,858 shares of company stock worth $2,223,504 in the last quarter. 0.14% of the stock is owned by corporate 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.