Blue Trust Inc. Has $442,000 Stock Position in The Bank of New York Mellon Corporation $BK

Blue Trust Inc. raised its position in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,848 shares of the bank’s stock after purchasing an additional 434 shares during the period. Blue Trust Inc.’s holdings in Bank of New York Mellon were worth $442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its holdings in shares of Bank of New York Mellon by 100.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank’s stock valued at $30,000 after purchasing an additional 196 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Bank of New York Mellon during the 1st quarter valued at approximately $32,000. Finally, Hoey Investments Inc. bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $32,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BK has been the topic of several research reports. The Goldman Sachs Group lifted their price target on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the company a “buy” rating in a report on Monday, October 6th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Weiss Ratings restated a “buy (b+)” rating on shares of Bank of New York Mellon in a report on Wednesday, October 8th. Evercore ISI boosted their price target on Bank of New York Mellon from $91.00 to $110.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Finally, BMO Capital Markets started coverage on Bank of New York Mellon in a report on Friday, October 3rd. They set an “outperform” rating and a $125.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $106.77.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 20,000 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 35,115 shares of the company’s stock, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $106.26 on Tuesday. 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 stock has a market capitalization of $74.94 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 0.98 and a beta of 1.13. The firm’s fifty day simple moving average is $105.19 and its two-hundred day simple moving average is $93.97. The Bank of New York Mellon Corporation has a 12 month low of $70.46 and a 12 month high of $110.87.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, March 26th. The bank reported $1.30 EPS for the quarter. The business had revenue of $4.38 billion for the quarter. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. As a group, analysts predict that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

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.