Zurich Insurance Group Ltd FI Buys 113,458 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Zurich Insurance Group Ltd FI increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 708,867 shares of the bank's stock after acquiring an additional 113,458 shares during the quarter. Zurich Insurance Group Ltd FI owned about 0.10% of Bank of New York Mellon worth $54,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BK. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $28,000. Transce3nd LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $33,000. South Plains Financial Inc. bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $34,000. Finally, Graney & King LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $35,000. Institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BK shares. Wall Street Zen downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Citigroup boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. 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 report on Tuesday, April 1st. Royal Bank of Canada restated a "sector perform" rating and set a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, Truist Financial lowered their target price on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded up $0.19 on Thursday, hitting $89.09. The company had a trading volume of 3,695,853 shares, compared to its average volume of 4,055,409. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.63. The stock has a market cap of $63.74 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 0.97 and a beta of 1.05. The stock has a 50 day moving average price of $81.74 and a 200 day moving average price of $81.73. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion during 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%. Bank of New York Mellon's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 earnings per share. Analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

Insider Activity

In other Bank of New York Mellon news, 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 sale, the executive vice president now directly owns 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon 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.