21,600 Shares in The Bank of New York Mellon Co. (NYSE:BK) Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 21,600 shares of the bank's stock, valued at approximately $1,660,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at $25,000. Bellwether Advisors LLC bought a new position in Bank of New York Mellon in the 4th quarter worth approximately $28,000. Transce3nd LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $33,000. Graney & King LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth $35,000. Finally, Centricity Wealth Management LLC bought a new position in Bank of New York Mellon in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $82.17 on Monday. The company has a fifty day moving average price of $80.98 and a 200 day moving average price of $80.70. The Bank of New York Mellon Co. has a 1-year low of $56.98 and a 1-year high of $90.34. The firm has a market cap of $59.00 billion, a PE ratio of 14.14, a PEG ratio of 0.97 and a beta of 1.05. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the firm earned $1.29 EPS. Bank of New York Mellon's revenue for the quarter was up 5.9% compared to the same quarter last year. Research analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.29%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is 30.62%.

Analyst Ratings Changes

Several brokerages have recently issued reports on BK. Bank of America raised their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Morgan Stanley dropped their target price on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. UBS Group increased their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Finally, Barclays raised their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly owns 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,114 shares of company stock valued at $7,869,795. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.