Dakota Wealth Management Has $16.09 Million Stock Holdings in The Bank of New York Mellon Corporation $BK

Key Points

• Dakota Wealth Management reduced its holdings in The Bank of New York Mellon by 7.9%, owning 176,611 shares valued at approximately $16.09 million after selling 15,074 shares in the second quarter.
• Wall Street analysts are optimistic about the bank's stock, with eight analysts rating it a Buy and raising target prices, including Morgan Stanley increasing theirs from $95 to $101.
• The Bank of New York Mellon declared a quarterly dividend of $0.53 per share, up from the previous dividend of $0.47, providing an annualized yield of 2.0%.

Dakota Wealth Management trimmed its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,611 shares of the bank's stock after selling 15,074 shares during the period. Dakota Wealth Management's holdings in Bank of New York Mellon were worth $16,091,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in shares of Bank of New York Mellon by 1.9% during the 1st quarter. Ameriprise Financial Inc. now owns 12,043,601 shares of the bank's stock worth $1,010,093,000 after buying an additional 221,613 shares during the last quarter. Nuveen LLC bought a new position in shares of Bank of New York Mellon during the first quarter worth approximately $773,627,000. Invesco Ltd. lifted its holdings in Bank of New York Mellon by 8.8% during the 1st quarter. Invesco Ltd. now owns 8,264,176 shares of the bank's stock worth $693,116,000 after purchasing an additional 667,966 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Bank of New York Mellon by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,125,577 shares of the bank's stock valued at $681,492,000 after purchasing an additional 436,100 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Bank of New York Mellon by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank's stock valued at $423,858,000 after buying an additional 1,052,145 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BK shares. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Truist Financial raised their target price on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the stock a "hold" rating in a report on Thursday, August 14th. Citigroup raised their target price on shares of Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a report on Friday, September 5th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus price target of $96.62.

Bank of New York Mellon Stock Performance

NYSE BK opened at $108.19 on Thursday. 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 firm has a market capitalization of $76.30 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 1.03 and a beta of 1.14. The firm's 50 day simple moving average is $103.35 and its 200 day simple moving average is $91.65. The Bank of New York Mellon Corporation has a 1 year low of $70.41 and a 1 year high of $110.87.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.21. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same quarter last year, the business posted $1.51 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts expect that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Stockholders of record on Friday, July 25th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.0%. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.37%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of Bank of New York Mellon 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 transaction, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company's stock.

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.

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