111 Capital Invests $477,000 in The Bank of New York Mellon Co. (NYSE:BK)

111 Capital bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,214 shares of the bank's stock, valued at approximately $477,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BK. Parvin Asset Management LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $25,000. Bellwether Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $28,000. REAP Financial Group LLC increased its holdings in Bank of New York Mellon by 123.2% during the 4th 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 period. Transce3nd LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $33,000. Finally, South Plains Financial Inc. acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $34,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BK. Truist Financial downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Wall Street Zen lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Evercore ISI boosted their target price 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. Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a report 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 report on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.08.

Insider Buying and Selling

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 55,115 shares of the company's stock, valued at $4,355,738.45. This represents a 35.25% decrease in their position. 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 over the last quarter. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Performance

NYSE:BK traded up $0.28 during mid-day trading on Monday, reaching $88.89. 1,319,740 shares of the stock were exchanged, compared to its average volume of 4,062,859. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 1 year low of $57.18 and a 1 year high of $90.63. The company has a 50 day simple moving average of $82.36 and a 200-day simple moving average of $82.27. The stock has a market capitalization of $63.59 billion, a P/E ratio of 15.30, a P/E/G ratio of 0.97 and a beta of 1.05.

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 for the quarter, compared to analysts' expectations 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 EPS. Analysts anticipate 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

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.