Robeco Institutional Asset Management B.V. Decreases Stake in The Bank of New York Mellon Corporation $BK

Robeco Institutional Asset Management B.V. lowered its position in The Bank of New York Mellon Corporation (NYSE:BK) by 16.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,588,431 shares of the bank’s stock after selling 317,957 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.22% of Bank of New York Mellon worth $144,722,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. BSW Wealth Partners lifted its stake in Bank of New York Mellon by 4.2% in the second quarter. BSW Wealth Partners now owns 5,162 shares of the bank’s stock worth $470,000 after acquiring an additional 209 shares during the last quarter. Woodward Diversified Capital LLC lifted its stake in Bank of New York Mellon by 56.1% in the second quarter. Woodward Diversified Capital LLC now owns 7,585 shares of the bank’s stock worth $691,000 after acquiring an additional 2,725 shares during the last quarter. New Wave Wealth Advisors LLC lifted its stake in Bank of New York Mellon by 1.9% in the second quarter. New Wave Wealth Advisors LLC now owns 7,199 shares of the bank’s stock worth $656,000 after acquiring an additional 131 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in Bank of New York Mellon by 1,225.9% in the second quarter. SOA Wealth Advisors LLC. now owns 7,160 shares of the bank’s stock worth $652,000 after acquiring an additional 6,620 shares during the last quarter. Finally, First Pacific Financial purchased a new position in Bank of New York Mellon in the second quarter worth approximately $4,302,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $106.89 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $75.39 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.03 and a beta of 1.13. The firm’s fifty day simple moving average is $104.36 and its 200-day simple moving average is $92.60. The Bank of New York Mellon Corporation has a 12 month low of $70.41 and a 12 month high of $110.87.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.21. The company had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. Bank of New York Mellon’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.51 EPS. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, August 7th. Shareholders of record on Friday, July 25th were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $2.12 annualized dividend and a 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 is presently 32.37%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Bank of New York Mellon in a research note on Thursday, September 25th. They issued a “buy” rating for the company. Keefe, Bruyette & Woods lifted their price target on shares of 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. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Wells Fargo & Company boosted 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. Finally, Citigroup boosted their price objective on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.92.

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 on Tuesday, July 22nd. The shares were 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 of the company’s stock, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.