NorthRock Partners LLC Purchases New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

NorthRock Partners LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,776 shares of the bank's stock, valued at approximately $674,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Parvin Asset Management LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $25,000. Bellwether Advisors LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $28,000. Transce3nd LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth approximately $33,000. South Plains Financial Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $34,000. Finally, Graney & King LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $35,000. 85.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents a 42.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was 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 now directly owns 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,114 shares of company stock valued at $7,869,795 in the last quarter. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

BK has been the subject of a number of research reports. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research note on Tuesday, April 1st. Morgan Stanley cut 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. UBS Group raised their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Citigroup lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research note on Monday, March 24th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $91.31.

Bank of New York Mellon Trading Up 0.3%

Shares of BK stock traded up $0.24 on Monday, hitting $90.31. 3,429,318 shares of the company's stock traded hands, compared to its average volume of 4,032,401. The stock has a market capitalization of $64.61 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.61. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The company's fifty day simple moving average is $81.07 and its 200 day simple moving average is $81.41.

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

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Bank of New York Mellon Company 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.