The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,646,496 shares of the bank's stock after purchasing an additional 104,558 shares during the period. Van ECK Associates Corp owned approximately 0.47% of Bank of New York Mellon worth $189,800,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. boosted its position 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 valued at $33,000 after buying an additional 183 shares during the last quarter. Blue Trust Inc. boosted its position in Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank's stock valued at $45,000 after buying an additional 527 shares during the last quarter. Addison Advisors LLC boosted its position 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 valued at $37,000 after buying an additional 754 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in Bank of New York Mellon in the 3rd quarter valued at about $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Bank of New York Mellon in the 3rd quarter valued at about $49,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction that occurred on Friday, April 19th. The shares were 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 in the company, valued at $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Catherine Keating sold 54,070 shares of the firm's stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares of the company's stock, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock worth $5,459,897 over the last quarter. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded up $0.02 during trading hours on Monday, hitting $57.34. The stock had a trading volume of 2,638,528 shares, compared to its average volume of 3,937,528. The stock's fifty day simple moving average is $56.01 and its 200 day simple moving average is $51.91. 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 $43.17 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.23 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.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business earned $1.13 earnings per share. Bank of New York Mellon's revenue was up 3.8% compared to the same quarter last year. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.93%. Bank of New York Mellon's dividend payout ratio is presently 40.98%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Evercore ISI upped their price objective on shares of 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. 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 research report on Wednesday, February 14th. Bank of America increased their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Morgan Stanley increased their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $60.17.

Bank of New York Mellon Company 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.

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