Integrated Wealth Concepts LLC Acquires 5,509 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Integrated Wealth Concepts LLC raised its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,975 shares of the bank's stock after acquiring an additional 5,509 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Bank of New York Mellon were worth $3,302,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BK. FMR LLC boosted its stake in shares of Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Norges Bank purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at approximately $1,150,462,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after buying an additional 1,125,493 shares in the last quarter. Invesco Ltd. boosted its stake in Bank of New York Mellon by 2.4% during the fourth quarter. Invesco Ltd. now owns 7,596,210 shares of the bank's stock worth $583,617,000 after acquiring an additional 175,704 shares in the last quarter. Finally, Amundi grew its stake in shares of Bank of New York Mellon by 5.1% in the 4th quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after buying an additional 359,942 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

BK traded up $1.16 during trading on Friday, reaching $82.07. 2,057,612 shares of the company traded hands, compared to its average volume of 3,965,596. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The firm has a fifty day simple moving average of $81.07 and a 200 day simple moving average of $80.62. The Bank of New York Mellon Co. has a 12-month low of $56.31 and a 12-month high of $90.34. The company has a market cap of $58.92 billion, a P/E ratio of 14.12, a PEG ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping 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 previous year, the firm posted $1.29 earnings per share. The business's revenue was up 5.9% compared to the same quarter last year. On average, equities 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. Stockholders of record on Monday, April 21st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.29%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BK. Evercore ISI increased their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. UBS Group boosted 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. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Finally, 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 research note on Monday, March 17th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 owns 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25 % decrease in their position. The sale 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 firm'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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by corporate 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.