The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by IFG Advisory LLC

IFG Advisory LLC raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,355 shares of the bank's stock after purchasing an additional 35,582 shares during the quarter. IFG Advisory LLC's holdings in Bank of New York Mellon were worth $4,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Tectonic Advisors LLC lifted its holdings in Bank of New York Mellon by 18.2% during the fourth quarter. Tectonic Advisors LLC now owns 7,620 shares of the bank's stock valued at $397,000 after purchasing an additional 1,172 shares during the last quarter. Abundance Wealth Counselors purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $240,000. Legacy Bridge LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $100,000. Simon Quick Advisors LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $206,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Bank of New York Mellon by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 52,069 shares of the bank's stock worth $2,710,000 after buying an additional 2,658 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on BK shares. UBS Group increased their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. raised shares of Bank of New York Mellon from a "neutral" rating to an "overweight" rating and set a $54.50 price target on the stock in a report on Monday, December 18th. Citigroup increased their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, February 14th. Royal Bank of Canada reissued a "sector perform" rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday. Finally, Morgan Stanley raised shares of Bank of New York Mellon from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $52.00 to $62.00 in a research note on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $55.65.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,425 shares of the firm's stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total value of $850,843.00. Following the transaction, the vice president now owns 119,656 shares in the company, valued at $6,600,224.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Hanneke Smits sold 15,425 shares of the firm's stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total value of $850,843.00. Following the transaction, the vice president now owns 119,656 shares in the company, valued at $6,600,224.96. 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 4,498 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Bank of New York Mellon Price Performance

BK traded up $0.70 on Thursday, reaching $57.63. The company had a trading volume of 3,116,276 shares, compared to its average volume of 4,036,419. The business has a 50 day simple moving average of $55.42 and a 200 day simple moving average of $49.80. The company has a market cap of $43.39 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 0.72. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $57.88.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, January 12th. The bank reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.16. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The business had revenue of $4.31 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same period last year, the business earned $1.30 earnings per share. The business's quarterly revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.26 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Monday, January 22nd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date was Friday, January 19th. Bank of New York Mellon's payout ratio is currently 42.32%.

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.