The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Aspire Private Capital LLC

Aspire Private Capital LLC grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,920 shares of the bank’s stock after acquiring an additional 1,450 shares during the quarter. Aspire Private Capital LLC’s holdings in Bank of New York Mellon were worth $1,373,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BK. Vanguard Group Inc. raised its stake in shares of Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after purchasing an additional 4,293,751 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Bank of New York Mellon by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock worth $1,030,254,000 after purchasing an additional 144,162 shares during the last quarter. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $813,701,000. LSV Asset Management raised its stake in shares of Bank of New York Mellon by 1.0% during the fourth quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock worth $383,723,000 after purchasing an additional 72,880 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Bank of New York Mellon by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,758,152 shares of the bank’s stock worth $351,775,000 after purchasing an additional 223,867 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Bank of New York Mellon from $65.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group increased their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Barclays increased 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 report on Monday, July 15th. Bank of America raised their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Citigroup cut 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 report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $65.86.

Insider Activity

In other news, 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 transaction, the vice president now directly owns 173,930 shares of the company’s stock, valued at approximately $11,150,652.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK traded down $0.53 during trading hours on Monday, reaching $63.25. 3,803,727 shares of the company traded hands, compared to its average volume of 3,863,212. The company has a quick ratio of 0.71, a current ratio of 0.70 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $47.30 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.14 and a beta of 1.09. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $65.90. The stock has a fifty day simple moving average of $61.34 and a 200 day simple moving average of $58.17.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, July 12th. The bank reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a return on equity of 11.87% and a net margin of 9.40%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.53 billion. During the same quarter last year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts predict that The Bank of New York Mellon Co. will post 5.6 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Monday, July 22nd were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.97%. This is a positive change from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 43.52%.

Bank of New York Mellon 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.