Kovitz Investment Group Partners LLC Acquires 196,090 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Kovitz Investment Group Partners LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 106.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 380,084 shares of the bank's stock after purchasing an additional 196,090 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.05% of Bank of New York Mellon worth $29,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BK. Czech National Bank grew its stake in shares of Bank of New York Mellon by 4.9% in the fourth quarter. Czech National Bank now owns 157,645 shares of the bank's stock valued at $12,112,000 after acquiring an additional 7,316 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings 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 purchasing an additional 82,671 shares during the period. Fifth Third Bancorp boosted its stake 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 buying an additional 7,935 shares during the period. Natixis Advisors LLC grew its position in Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock worth $21,971,000 after buying an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA acquired a new position in Bank of New York Mellon in the 4th quarter valued at $342,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the subject of several analyst reports. Citigroup boosted their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Wolfe Research downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Wells Fargo & Company boosted their price target on 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. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Finally, Truist Financial dropped their target price on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a report on Monday, April 14th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.31.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business's 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 transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. The trade was a 42.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Up 0.9 %

NYSE BK traded up $0.70 on Thursday, reaching $81.11. The company had a trading volume of 1,151,622 shares, compared to its average volume of 3,965,047. The business has a 50 day moving average of $81.22 and a two-hundred day moving average of $80.59. The Bank of New York Mellon Co. has a fifty-two week low of $56.08 and a fifty-two week high of $90.34. The firm has a market cap of $58.24 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the firm posted $1.29 EPS. The company's quarterly revenue was up 5.9% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) 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.