1,219 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by LRI Investments LLC

LRI Investments LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,219 shares of the bank’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. 1832 Asset Management L.P. increased its holdings in Bank of New York Mellon by 3.1% in the 1st quarter. 1832 Asset Management L.P. now owns 47,120 shares of the bank’s stock valued at $2,715,000 after buying an additional 1,423 shares during the period. Canada Pension Plan Investment Board raised its position in Bank of New York Mellon by 69.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,397,589 shares of the bank’s stock worth $80,529,000 after purchasing an additional 574,185 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Bank of New York Mellon by 0.7% in the 1st quarter. Toronto Dominion Bank now owns 465,478 shares of the bank’s stock valued at $26,821,000 after purchasing an additional 3,376 shares during the period. Advisors Asset Management Inc. boosted its stake in Bank of New York Mellon by 63.7% in the 1st quarter. Advisors Asset Management Inc. now owns 35,405 shares of the bank’s stock valued at $2,040,000 after buying an additional 13,778 shares in the last quarter. Finally, Element Pointe Advisors LLC bought a new stake in Bank of New York Mellon in the first quarter valued at $1,468,000. Institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Bank of America boosted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Evercore ISI raised their price target on Bank of New York Mellon from $61.00 to $66.00 and gave the company an “in-line” rating in a report on Monday, July 15th. Finally, Barclays boosted their price objective on Bank of New York Mellon from $68.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $65.23.

Bank of New York Mellon Trading Up 0.8 %

Shares of BK stock traded up $0.54 during trading hours on Friday, reaching $65.35. The company had a trading volume of 3,898,661 shares, compared to its average volume of 4,424,193. 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 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 50 day moving average of $60.39 and a 200 day moving average of $57.52. The firm has a market cap of $48.87 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 1.16 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last issued its 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 analysts’ expectations 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 was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. On average, equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd will be issued a $0.47 dividend. The ex-dividend date is Monday, July 22nd. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a yield of 2.88%. Bank of New York Mellon’s dividend payout ratio (DPR) is 43.52%.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the sale, the insider now owns 24,346 shares of the company’s stock, valued at approximately $1,410,363.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,410,363.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the transaction, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. 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 three months. 0.14% of the stock is currently 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.