Mirova Invests $1.32 Million in The Bank of New York Mellon Co. (NYSE:BK)

Mirova bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,162 shares of the bank's stock, valued at approximately $1,319,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BK. MML Investors Services LLC increased its position in shares of Bank of New York Mellon by 35.9% in the fourth quarter. MML Investors Services LLC now owns 238,509 shares of the bank's stock worth $18,325,000 after acquiring an additional 62,952 shares in the last quarter. MetLife Investment Management LLC grew its position in Bank of New York Mellon by 0.4% during the 4th quarter. MetLife Investment Management LLC now owns 192,650 shares of the bank's stock worth $14,801,000 after purchasing an additional 745 shares in the last quarter. Natixis raised its stake in Bank of New York Mellon by 714.7% during the 4th quarter. Natixis now owns 146,527 shares of the bank's stock valued at $11,258,000 after purchasing an additional 128,541 shares during the period. Norinchukin Bank The lifted its holdings in shares of Bank of New York Mellon by 8.4% in the fourth quarter. Norinchukin Bank The now owns 33,080 shares of the bank's stock valued at $2,542,000 after purchasing an additional 2,554 shares in the last quarter. Finally, Ossiam boosted its position in shares of Bank of New York Mellon by 79.0% in the fourth quarter. Ossiam now owns 61,812 shares of the bank's stock worth $4,749,000 after buying an additional 27,280 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Activity

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 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 $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Bank of America increased their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Wolfe Research lowered shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Truist Financial dropped their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research note 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded up $0.08 during midday trading on Friday, hitting $78.80. The company's stock had a trading volume of 1,049,191 shares, compared to its average volume of 3,956,601. 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 company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market capitalization of $56.58 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.97 and a beta of 1.03. The stock's 50 day simple moving average is $81.89 and its 200 day simple moving average is $80.43.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the company posted $1.29 earnings per share. Bank of New York Mellon's quarterly revenue was up 5.9% on a year-over-year basis. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.39%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

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.