Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 806,265 shares of the bank's stock, valued at approximately $61,945,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.11% of Bank of New York Mellon at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Janney Montgomery Scott LLC boosted its holdings in Bank of New York Mellon by 11.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 142,423 shares of the bank's stock worth $10,942,000 after purchasing an additional 14,675 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Bank of New York Mellon by 33.4% in the 4th quarter. Avior Wealth Management LLC now owns 5,940 shares of the bank's stock valued at $456,000 after purchasing an additional 1,488 shares during the period. Fifth Third Bancorp increased its holdings in shares of Bank of New York Mellon by 9.2% in the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock valued at $7,226,000 after purchasing an additional 7,935 shares during the period. Geneos Wealth Management Inc. increased its holdings in Bank of New York Mellon by 4.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 9,589 shares of the bank's stock worth $737,000 after buying an additional 400 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Bank of New York Mellon by 130.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,177 shares of the bank's stock worth $551,000 after purchasing an additional 4,065 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Evercore ISI upped their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Morgan Stanley reduced their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Truist Financial lowered Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their price target for the company from $87.00 to $97.00 in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.08.
View Our Latest Analysis on BK
Insider Transactions at Bank of New York Mellon
In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the company's stock in a transaction that occurred 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. This represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction that occurred 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 transaction, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is currently owned by company insiders.
Bank of New York Mellon Stock Performance
Shares of NYSE:BK traded up $0.23 during trading hours on Thursday, hitting $89.03. The stock had a trading volume of 3,767,713 shares, compared to its average volume of 4,070,728. 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 debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a market capitalization of $63.69 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 0.97 and a beta of 1.05. The stock's fifty day simple moving average is $82.21 and its 200 day simple moving average is $82.06.
Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during 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 business posted $1.29 EPS. Sell-side 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 company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.11%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.
About Bank of New York Mellon
(
Free Report)
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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