Machina Capital S.A.S. Has $380,000 Stock Position in The Bank of New York Mellon Corporation (NYSE:BK)

Key Points

• Machina Capital S.A.S. reduced its stake in The Bank of New York Mellon by 74.9%, holding 4,525 shares valued at $380,000 after selling 13,527 shares in the first quarter.
• Several institutional investors increased their positions in Bank of New York Mellon, with 85.31% of the stock currently owned by these investors.
• The bank recently declared a quarterly dividend of $0.53, an increase from the previous $0.47, representing an annualized dividend yield of 2.10%.

Machina Capital S.A.S. lessened its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 74.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,525 shares of the bank's stock after selling 13,527 shares during the quarter. Machina Capital S.A.S.'s holdings in Bank of New York Mellon were worth $380,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BK. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth $220,000. LPL Financial LLC raised its stake in Bank of New York Mellon by 20.1% during the 4th quarter. LPL Financial LLC now owns 448,672 shares of the bank's stock worth $34,471,000 after buying an additional 74,948 shares during the period. Financial Counselors Inc. increased its holdings in Bank of New York Mellon by 4.5% during the 4th quarter. Financial Counselors Inc. now owns 4,260 shares of the bank's stock worth $327,000 after purchasing an additional 184 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Bank of New York Mellon by 6.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,152,045 shares of the bank's stock worth $88,627,000 after purchasing an additional 73,391 shares in the last quarter. Finally, NEOS Investment Management LLC increased its holdings in Bank of New York Mellon by 31.6% during the 4th quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank's stock worth $3,584,000 after purchasing an additional 11,200 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock traded up $0.99 during midday trading on Friday, reaching $100.96. 4,123,316 shares of the company's stock were exchanged, compared to its average volume of 4,583,163. The Bank of New York Mellon Corporation has a 52 week low of $60.93 and a 52 week high of $101.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.69 and a current ratio of 0.72. The firm has a market cap of $72.23 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 0.98 and a beta of 1.07. The stock's 50-day simple moving average is $91.96 and its 200 day simple moving average is $86.05.

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 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.21. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. The business had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter last year, the company posted $1.51 earnings per share. Bank of New York Mellon's quarterly revenue was up 9.4% on a year-over-year basis. On average, 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 will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be issued a dividend of $0.53 per share. The ex-dividend date is Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a yield of 2.10%. This is a boost from Bank of New York Mellon's previous quarterly dividend of $0.47. Bank of New York Mellon's dividend payout ratio (DPR) is presently 28.70%.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the sale, the executive vice president directly owned 55,115 shares in the company, valued at $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley increased their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods increased their target price on 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. Evercore ISI increased their target price on 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 increased their target price on Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price objective 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.38.

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.