AG2R LA Mondiale Gestion D Actifs Takes Position in The Bank of New York Mellon Corporation $BK

AG2R LA Mondiale Gestion D Actifs acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK) in the 1st quarter, Holdings Channel.com reports. The fund acquired 27,032 shares of the bank’s stock, valued at approximately $2,395,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BK. Opal Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in Bank of New York Mellon in the first quarter valued at approximately $25,000. REAP Financial Group LLC boosted its holdings in Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock valued at $30,000 after acquiring an additional 218 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in Bank of New York Mellon by 100.0% in the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after acquiring an additional 196 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in Bank of New York Mellon in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the transaction, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. This trade represents a 36.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $106.46 on Friday. The stock has a market capitalization of $75.08 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.00 and a beta of 1.14. The Bank of New York Mellon Corporation has a 52-week low of $68.51 and a 52-week high of $106.57. The stock’s 50 day moving average price is $101.15 and its two-hundred day moving average price is $90.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The firm had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%.The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.51 EPS. On average, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current 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. The ex-dividend date was Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.47. Bank of New York Mellon’s dividend payout ratio (DPR) is 32.37%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Truist Financial upped their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a report on Thursday, August 14th. Evercore ISI upped their target price on Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Morgan Stanley upped their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company upped their target price on Bank of New York Mellon from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.62.

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.