Several large investors have recently adjusted their stakes in the Bank of New York Mellon (BK). The Healthcare of Ontario Pension Plan Trust Fund increased its holdings by 0.9% in Q2 and now owns 387,500 shares worth $23.2 million after buying 3,500 additional shares. Heritage Wealth Management acquired shares valued at $600,000, while Sanctuary Advisors bought shares worth $5.2 million. Truist Financial boosted its holdings by 3.3% and now owns 1.73 million shares worth $103.9 million after acquiring 55,631 shares. Point72 Asset Management made significant gains, increasing its stake by 1,081% and now holds 304,100 shares valued at $18.2 million. Overall, institutional investors and hedge funds control 85.31% of the company’s stock.
Bank of New York Mellon Price Performance
Bank of New York Mellon’s stock opened at $71.98. Key financial ratios include a current ratio of 0.70, debt-to-equity ratio of 0.85, and market capitalization of $53.8 billion. The stock has seen a 1-year low of $39.66 and a high of $73.19.
In its earnings report released on July 12, BNY Mellon reported $1.51 earnings per share, beating expectations of $1.43. The quarterly revenue reached $4.60 billion, which was an increase of 2.1% from the previous year.
Bank of New York Mellon Increases Dividend
BNY Mellon announced a quarterly dividend of $0.47 on August 2, up from $0.42 previously. This reflects an annual dividend of $1.88 and a yield of 2.61%.
Analyst Upgrades
Analysts have raised their price targets for BNY Mellon: Evercore ISI to $66, Barclays to $75, Goldman Sachs to $80, Deutsche Bank to $80, and Morgan Stanley to $78. Overall, the consensus rating for the stock is a “Moderate Buy” with an average target price of $69.38.
Insider Activity
Vice President Hanneke Smits sold 15,000 shares at $64.11, totaling $961,650. Post-sale, she holds 173,930 shares valued at approximately $11.15 million.
About Bank of New York Mellon
Bank of New York Mellon Corporation offers a variety of financial services, including custody solutions, asset management, and investment services.
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See which hedge funds hold BK. Visit HoldingsChannel.com for the latest filings and trades.
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