Point72 Europe London LLP Invests $5.96 Million in The Bank of New York Mellon Corporation $BK

Key Points

• Point72 Europe London LLP has invested approximately $5.96 million in The Bank of New York Mellon Corporation, purchasing 71,100 shares as per SEC filings.
• The stock of The Bank of New York Mellon is currently trading at around $105.67, showing a slight decline of 0.4%, with a twelve-month range between $66.01 and $106.57.
• The Bank of New York Mellon has recently raised its quarterly dividend to $0.53 per share, reflecting an annualized yield of 2.0% and a dividend payout ratio of 32.37%.

Point72 Europe London LLP acquired a new stake in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 71,100 shares of the bank's stock, valued at approximately $5,963,000.

A number of other large investors have also added to or reduced their stakes in BK. Opal Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon in the first quarter worth $25,000. Alpine Bank Wealth Management purchased a new position in shares of Bank of New York Mellon in the first quarter worth $25,000. REAP Financial Group LLC raised its stake in shares of Bank of New York Mellon by 123.2% in the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after purchasing an additional 218 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Bank of New York Mellon by 100.0% during the first quarter. Cornerstone Planning Group LLC now owns 392 shares of the bank's stock valued at $30,000 after acquiring an additional 196 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new stake in Bank of New York Mellon during the first quarter valued at $32,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Down 0.2%

Shares of Bank of New York Mellon stock traded down $0.16 during trading on Wednesday, reaching $104.54. The company's stock had a trading volume of 2,258,193 shares, compared to its average volume of 3,020,512. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market cap of $73.73 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 1.00 and a beta of 1.14. The Bank of New York Mellon Corporation has a 1-year low of $66.01 and a 1-year high of $106.57. The company has a 50-day simple moving average of $98.96 and a two-hundred day simple moving average of $89.56.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued 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 company had revenue of $4.77 billion during the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter in the previous year, the firm posted $1.51 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. 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 dividend of $0.53 per share. This is an increase from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date was Friday, July 25th. This represents a $2.12 annualized dividend and a yield of 2.0%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.37%.

Insider Activity

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total value of $1,969,000.00. Following the completion of the sale, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on BK. Truist Financial upped their price objective on Bank of New York Mellon from $100.00 to $109.00 and gave the company a "hold" rating in a research report on Thursday, August 14th. Evercore ISI boosted their price target on Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $96.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Morgan Stanley boosted their target price on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $105.00 to $113.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $95.08.

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.