Signature Estate & Investment Advisors LLC Acquires New Holdings in The Bank of New York Mellon Corporation $BK

Key Points

• Signature Estate & Investment Advisors LLC acquired a new stake in The Bank of New York Mellon Corporation valued at approximately $222,000 by purchasing 2,648 shares in the first quarter.
• The Bank of New York Mellon recently declared a quarterly dividend of $0.53, up from the previous $0.47, marking an annualized yield of 2%.
• In its latest earnings report, Bank of New York Mellon posted $1.94 earnings per share, exceeding analysts' expectations of $1.73, with revenue reaching $4.77 billion.

Signature Estate & Investment Advisors LLC acquired a new stake in The Bank of New York Mellon Corporation (NYSE:BK - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,648 shares of the bank's stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also modified their holdings of BK. Nuveen LLC acquired a new position in Bank of New York Mellon during the 1st quarter worth approximately $773,627,000. GAMMA Investing LLC boosted its position in Bank of New York Mellon by 9,538.9% during the 1st quarter. GAMMA Investing LLC now owns 1,399,958 shares of the bank's stock worth $117,414,000 after acquiring an additional 1,385,434 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Bank of New York Mellon during the 1st quarter worth approximately $92,502,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Bank of New York Mellon by 15.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,689,477 shares of the bank's stock worth $590,783,000 after acquiring an additional 1,055,389 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank's stock worth $423,858,000 after acquiring an additional 1,052,145 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Down 0.8%

BK opened at $103.96 on Thursday. The Bank of New York Mellon Corporation has a 1-year low of $66.01 and a 1-year high of $106.57. The stock's fifty day simple moving average is $100.59 and its 200 day simple moving average is $90.23. 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 stock has a market cap of $73.32 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14.

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 for the quarter, beating 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 for the quarter, compared to analysts' expectations of $4.80 billion. During the same quarter in the prior year, the business earned $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 year.

Bank of New York Mellon Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were paid a $0.53 dividend. 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. This represents a $2.12 dividend on an annualized basis and a yield of 2.0%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 32.37%.

Analyst Ratings Changes

A number of research firms have weighed in on BK. Truist Financial upped their price target on 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. Citigroup upped their price objective on Bank of New York Mellon from $92.00 to $105.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Evercore ISI upped their price objective on Bank of New York Mellon from $88.00 to $90.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 2nd. Morgan Stanley upped their price objective on Bank of New York Mellon from $95.00 to $101.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods upped their price objective on 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. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average price target of $96.62.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction 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 sale, the executive vice president owned 35,115 shares in the company, valued at approximately $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a legal filing 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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