The Bank of New York Mellon Corporation $BK Holdings Increased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC grew its stake in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 25.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,349 shares of the bank’s stock after buying an additional 4,806 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Bank of New York Mellon were worth $2,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan bought a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $1,035,000. TrueMark Investments LLC acquired a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $4,282,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Bank of New York Mellon by 29.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank’s stock worth $18,740,000 after purchasing an additional 50,368 shares during the last quarter. Formidable Asset Management LLC acquired a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $247,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Bank of New York Mellon by 121.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 183,602 shares of the bank’s stock worth $15,399,000 after purchasing an additional 100,810 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business’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 transaction, the executive vice president directly owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BK. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $118.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday. BMO Capital Markets began coverage on shares of Bank of New York Mellon in a research note on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $101.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $109.62.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $105.77 on Monday. The firm’s 50 day simple moving average is $105.59 and its 200-day simple moving average is $94.64. The company has a market cap of $74.59 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.72. The Bank of New York Mellon Corporation has a fifty-two week low of $70.46 and a fifty-two week high of $110.87.

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 business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. As a group, equities research analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Monday, October 27th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, October 27th. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon’s payout ratio is presently 30.59%.

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.