Hanlon Investment Management Inc. Buys New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Hanlon Investment Management Inc. bought a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 9,015 shares of the bank's stock, valued at approximately $693,000.

Several other large investors have also recently bought and sold shares of the company. Graney & King LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $35,000. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon in the fourth quarter worth approximately $39,000. TCTC Holdings LLC raised its stake in shares of Bank of New York Mellon by 257.5% during the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock worth $46,000 after acquiring an additional 430 shares in the last quarter. Modus Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $49,000. Finally, Friedenthal Financial bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at $56,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business's 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 approximately $1,680,122.50. The trade was a 20.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock traded up $0.52 during trading on Friday, hitting $76.25. 4,317,948 shares of the company's stock traded hands, compared to its average volume of 3,961,482. The Bank of New York Mellon Co. has a 1 year low of $55.42 and a 1 year high of $90.34. The business has a 50-day simple moving average of $82.72 and a 200-day simple moving average of $80.29. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a market capitalization of $54.75 billion, a P/E ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03.

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, beating the consensus estimate 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 firm had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the prior year, the firm earned $1.29 EPS. The company's revenue was up 5.9% compared to the same quarter last year. As a group, analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BK. Deutsche Bank Aktiengesellschaft raised their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. UBS Group lifted their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Morgan Stanley cut their price target on shares of 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 set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $91.31.

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.