The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Hikari Power Ltd

Hikari Power Ltd reduced its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 30.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 244,800 shares of the bank's stock after selling 107,600 shares during the quarter. Bank of New York Mellon comprises about 1.2% of Hikari Power Ltd's portfolio, making the stock its 17th largest holding. Hikari Power Ltd's holdings in Bank of New York Mellon were worth $12,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BK. Brown Brothers Harriman & Co. increased its holdings in Bank of New York Mellon by 97.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank's stock worth $30,000 after buying an additional 300 shares during the period. Hartford Financial Management Inc. increased its holdings in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank's stock worth $33,000 after buying an additional 183 shares during the period. Sunbelt Securities Inc. acquired a new position in Bank of New York Mellon in the 1st quarter worth approximately $36,000. Addison Advisors LLC increased its holdings in Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank's stock worth $37,000 after buying an additional 754 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in Bank of New York Mellon in the 3rd quarter worth approximately $38,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock traded up $0.47 during trading on Wednesday, reaching $54.47. The company had a trading volume of 4,513,897 shares, compared to its average volume of 4,027,140. The firm's 50-day simple moving average is $55.73 and its 200 day simple moving average is $51.10. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28. The firm has a market capitalization of $41.01 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The firm had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.39 billion. During the same quarter last year, the company earned $1.13 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.33 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 3.08%. Bank of New York Mellon's payout ratio is currently 42.32%.

Analysts Set New Price Targets

BK has been the topic of several research reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an "in-line" rating in a research note on Thursday, April 4th. UBS Group raised their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, January 9th. Bank of America raised their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Citigroup raised their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $58.17.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the firm's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by 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.