The Bank of New York Mellon Corporation $BK Shares Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC increased its holdings in The Bank of New York Mellon Corporation (NYSE:BK) by 210.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 14,151 shares of the bank’s stock after purchasing an additional 9,589 shares during the quarter. Simplicity Wealth LLC’s holdings in Bank of New York Mellon were worth $1,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB lifted its stake in shares of Bank of New York Mellon by 13.8% in the 2nd quarter. AMF Tjanstepension AB now owns 203,294 shares of the bank’s stock valued at $18,535,000 after purchasing an additional 24,654 shares during the last quarter. Quent Capital LLC lifted its position in Bank of New York Mellon by 12.1% in the second quarter. Quent Capital LLC now owns 4,447 shares of the bank’s stock valued at $405,000 after buying an additional 480 shares during the last quarter. 111 Capital boosted its stake in Bank of New York Mellon by 112.4% during the second quarter. 111 Capital now owns 18,026 shares of the bank’s stock worth $1,642,000 after buying an additional 9,541 shares during the period. QRG Capital Management Inc. boosted its stake in Bank of New York Mellon by 18.9% during the second quarter. QRG Capital Management Inc. now owns 459,266 shares of the bank’s stock worth $41,844,000 after buying an additional 73,112 shares during the period. Finally, Stock Yards Bank & Trust Co. increased its position in shares of Bank of New York Mellon by 33.0% during the second quarter. Stock Yards Bank & Trust Co. now owns 3,332 shares of the bank’s stock valued at $304,000 after acquiring an additional 826 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 0.1%

Shares of NYSE BK opened at $106.46 on Tuesday. The Bank of New York Mellon Corporation has a 12-month low of $70.46 and a 12-month high of $110.87. The stock has a market cap of $75.08 billion, a P/E ratio of 16.25, a PEG ratio of 1.01 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. The business’s fifty day simple moving average is $104.71 and its 200-day simple moving average is $93.21.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.21. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.Bank of New York Mellon’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.51 EPS. As a group, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

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

Analyst Ratings Changes

BK has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Bank of New York Mellon in a research note on Saturday, September 27th. BMO Capital Markets started coverage on Bank of New York Mellon in a report on Friday. They issued an “outperform” rating and a $125.00 price objective on the stock. Finally, Truist Financial lifted their target price on Bank of New York Mellon from $109.00 to $118.00 and gave the company a “hold” rating in a research report on Thursday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $106.77.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon 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 completion of the transaction, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is owned by corporate 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.