The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Css LLC Il

Css LLC Il grew its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 51.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,620 shares of the bank's stock after buying an additional 6,020 shares during the period. Css LLC Il's holdings in Bank of New York Mellon were worth $1,354,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $203,000. Merit Financial Group LLC increased its position in Bank of New York Mellon by 134.2% during the fourth quarter. Merit Financial Group LLC now owns 7,034 shares of the bank's stock worth $540,000 after buying an additional 4,030 shares during the period. HB Wealth Management LLC lifted its stake in Bank of New York Mellon by 37.9% in the fourth quarter. HB Wealth Management LLC now owns 18,815 shares of the bank's stock valued at $1,446,000 after buying an additional 5,172 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank's stock valued at $60,000 after acquiring an additional 135 shares during the period. Finally, Ellsworth Advisors LLC grew its position in shares of Bank of New York Mellon by 26.3% during the fourth quarter. Ellsworth Advisors LLC now owns 6,039 shares of the bank's stock worth $464,000 after acquiring an additional 1,256 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group upped their price target on shares of 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. Evercore ISI upped 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. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Wells Fargo & Company upped 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 research note on Monday, March 3rd. Finally, Citigroup lifted their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research note on Monday, March 24th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

Insider Activity

In related news, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction that occurred 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 sale, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the transaction, the executive vice president now directly owns 55,115 shares of the company's stock, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock worth $7,869,795 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Down 0.4%

Shares of BK opened at $90.00 on Wednesday. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.63. 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 firm has a market capitalization of $64.39 billion, a P/E ratio of 15.49, a PEG ratio of 0.97 and a beta of 1.05. The firm's 50-day moving average is $81.47 and its two-hundred day moving average is $81.58.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly 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. 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 return on equity of 12.68% and a net margin of 11.35%. The company's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. On average, research analysts predict 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 declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 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.

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