Markel Group Inc. lowered its position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 66.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,500 shares of the bank's stock after selling 243,750 shares during the quarter. Markel Group Inc.'s holdings in Bank of New York Mellon were worth $6,324,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of BK. Quent Capital LLC increased its holdings in Bank of New York Mellon by 3.8% in the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank's stock worth $262,000 after buying an additional 182 shares in the last quarter. 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 in the last quarter. Commonwealth Retirement Investments LLC grew its stake in shares of Bank of New York Mellon by 0.8% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank's stock valued at $1,445,000 after purchasing an additional 221 shares during the period. Arjuna Capital grew its stake in shares of Bank of New York Mellon by 0.5% during the 3rd quarter. Arjuna Capital now owns 48,446 shares of the bank's stock valued at $2,066,000 after purchasing an additional 251 shares during the period. Finally, BRYN MAWR TRUST Co grew its stake in shares of Bank of New York Mellon by 3.3% during the 3rd quarter. BRYN MAWR TRUST Co now owns 8,000 shares of the bank's stock valued at $341,000 after purchasing an additional 258 shares during the period. 85.31% of the stock is currently owned by institutional investors.
Bank of New York Mellon Price Performance
NYSE:BK traded up $0.13 during trading hours on Friday, reaching $57.31. The stock had a trading volume of 2,058,025 shares, compared to its average volume of 3,953,566. The stock has a market capitalization of $43.15 billion, a PE ratio of 13.98, a PEG ratio of 1.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The company has a 50 day moving average price of $56.01 and a two-hundred day moving average price of $51.77. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28.
Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. As a group, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.
Bank of New York Mellon Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.98%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Royal Bank of Canada restated a "sector perform" rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Evercore ISI lifted their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an "in-line" rating in a research report on Thursday, April 4th. Jefferies Financial Group lifted their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, April 18th. Citigroup lifted their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley lifted their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the company an "equal weight" rating in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.17.
Read Our Latest Analysis on Bank of New York Mellon
Insider Buying and Selling at Bank of New York Mellon
In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company's stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now owns 100,404 shares of the company's stock, valued at approximately $5,637,684.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company's stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the sale, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 4,498 shares of the company'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 completion of the sale, the vice president now owns 123,490 shares of the company's stock, valued at $6,768,486.90. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock valued at $5,459,897 in the last quarter. 0.14% of the stock is owned by insiders.
Bank of New York Mellon Profile
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Free Report)
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.
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