Banque de Luxembourg S.A. Invests $680,000 in The Bank of New York Mellon Co. (NYSE:BK)

Banque de Luxembourg S.A. acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,817 shares of the bank's stock, valued at approximately $680,000. Bank of New York Mellon makes up approximately 0.4% of Banque de Luxembourg S.A.'s portfolio, making the stock its 29th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tidal Investments LLC grew its stake in Bank of New York Mellon by 7.1% during the 3rd quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock valued at $2,426,000 after purchasing an additional 2,240 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of Bank of New York Mellon by 5.6% during the third quarter. Synovus Financial Corp now owns 13,241 shares of the bank's stock worth $952,000 after purchasing an additional 700 shares during the period. Franklin Resources Inc. boosted its position in Bank of New York Mellon by 8.3% in the third quarter. Franklin Resources Inc. now owns 2,252,729 shares of the bank's stock valued at $172,348,000 after buying an additional 173,347 shares during the last quarter. Principal Financial Group Inc. raised its position in Bank of New York Mellon by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 883,853 shares of the bank's stock worth $63,514,000 after buying an additional 14,916 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Bank of New York Mellon by 34.8% during the 4th quarter. Versant Capital Management Inc now owns 3,044 shares of the bank's stock worth $234,000 after buying an additional 786 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of BK traded up $1.05 during mid-day trading on Wednesday, hitting $83.96. 4,827,848 shares of the company were exchanged, compared to its average volume of 3,995,461. The stock has a market cap of $60.28 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a 1-year low of $57.12 and a 1-year high of $90.34. The company has a 50 day moving average of $80.82 and a 200-day moving average of $80.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

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

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.24%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares of the company's stock, valued at approximately $4,355,738.45. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock valued at $7,869,795 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BK has been the topic of a number of research reports. Bank of America increased their price objective on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Barclays boosted their price objective on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. UBS Group raised their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, Evercore ISI lifted their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.31.

About Bank of New York Mellon

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.