Swedbank AB Buys New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Swedbank AB bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 616,345 shares of the bank’s stock, valued at approximately $35,514,000. Swedbank AB owned 0.08% of Bank of New York Mellon at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. raised its position in Bank of New York Mellon by 82.1% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after purchasing an additional 230 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in Bank of New York Mellon during the 4th quarter valued at approximately $28,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $32,000. Able Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $32,000. Finally, Hartford Financial Management Inc. raised its position in shares of Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

BK stock opened at $63.10 on Friday. The company has a market cap of $47.19 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The Bank of New York Mellon Co. has a 1 year low of $39.66 and a 1 year high of $65.90. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.70 and a quick ratio of 0.71. The stock’s fifty day moving average price is $60.95 and its 200-day moving average price is $57.86.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. The firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.53 billion. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.38 EPS. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 5.6 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 Friday, August 2nd. Investors of record on Monday, July 22nd were given a dividend of $0.47 per share. The ex-dividend date was Monday, July 22nd. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.98%. Bank of New York Mellon’s payout ratio is 43.52%.

Analyst Ratings Changes

BK has been the subject of several research reports. Evercore ISI increased their target price on 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. Morgan Stanley raised their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Financial Group raised their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 price objective (up previously from $70.00) on shares of Bank of New York Mellon in a research report on Monday, July 15th. Finally, Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a research report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.86.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the completion of the transaction, the vice president now owns 144,721 shares in the company, valued at $8,343,165.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction dated 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 owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The disclosure for this sale can be found here. Insiders have sold a total of 36,858 shares of company stock valued at $2,223,504 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

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.