The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Sunbelt Securities Inc.

Sunbelt Securities Inc. increased its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 1,298.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,454 shares of the bank's stock after purchasing an additional 6,921 shares during the period. Sunbelt Securities Inc.'s holdings in Bank of New York Mellon were worth $575,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BK. Janney Montgomery Scott LLC raised its holdings in shares of Bank of New York Mellon by 11.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 142,423 shares of the bank's stock worth $10,942,000 after acquiring an additional 14,675 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Bank of New York Mellon by 33.4% during the 4th quarter. Avior Wealth Management LLC now owns 5,940 shares of the bank's stock worth $456,000 after acquiring an additional 1,488 shares in the last quarter. New Century Financial Group LLC purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $342,000. CX Institutional raised its holdings in shares of Bank of New York Mellon by 1.8% during the 4th quarter. CX Institutional now owns 8,588 shares of the bank's stock worth $660,000 after acquiring an additional 153 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Bank of New York Mellon during the 4th quarter worth approximately $342,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Down 1.5%

Shares of BK traded down $1.36 during mid-day trading on Wednesday, hitting $88.87. The company's stock had a trading volume of 3,221,622 shares, compared to its average volume of 4,067,153. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company's 50-day moving average is $82.10 and its 200-day moving average is $82.01. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $91.17. The firm has a market capitalization of $63.58 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the business earned $1.29 earnings per share. Bank of New York Mellon's revenue was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's payout ratio is currently 30.62%.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% 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 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BK shares. Evercore ISI upped their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Morgan Stanley decreased their price target 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 restated 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. Citigroup increased their price target 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, Wall Street Zen lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus target price of $92.08.

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.