Freestone Grove Partners LP Takes $6.86 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

Freestone Grove Partners LP bought a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 89,329 shares of the bank's stock, valued at approximately $6,863,000.

Several other large investors have also made changes to their positions in BK. Czech National Bank grew its holdings in Bank of New York Mellon by 4.9% during the fourth quarter. Czech National Bank now owns 157,645 shares of the bank's stock valued at $12,112,000 after purchasing an additional 7,316 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock worth $60,426,000 after buying an additional 82,671 shares during the period. Fifth Third Bancorp raised its holdings in shares of Bank of New York Mellon by 9.2% in the fourth 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 last quarter. Natixis Advisors LLC grew its position in Bank of New York Mellon by 6.5% in the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock valued at $21,971,000 after purchasing an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA acquired a new stake in Bank of New York Mellon in the 4th quarter valued at $342,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 1.3 %

NYSE BK traded up $1.05 on Wednesday, hitting $83.96. 3,635,511 shares of the company were exchanged, compared to its average volume of 3,990,778. The Bank of New York Mellon Co. has a 12 month low of $57.12 and a 12 month high of $90.34. 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 has a market cap of $60.28 billion, a PE ratio of 14.45, a PEG ratio of 0.97 and a beta of 1.05. The stock has a fifty day moving average of $80.82 and a 200-day moving average of $80.76.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted 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 the consensus estimate 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 firm's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 EPS. As a group, analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.24%. Bank of New York Mellon's payout ratio is 30.62%.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon 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 sale, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,114 shares of company stock valued at $7,869,795. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BK. Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. UBS Group increased their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Truist Financial decreased their price objective 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. StockNews.com downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, Citigroup increased their price target on shares of 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. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.31.

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.