LGT Fund Management Co Ltd. Acquires New Stake in The Bank of New York Mellon Co. (NYSE:BK)

LGT Fund Management Co Ltd. acquired a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 31,500 shares of the bank's stock, valued at approximately $1,645,000.

Other large investors also recently bought and sold shares of the company. Northern Trust Corp lifted its position in shares of Bank of New York Mellon by 8.2% during the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank's stock valued at $403,208,000 after buying an additional 715,421 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Bank of New York Mellon by 1.5% during the 3rd quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank's stock valued at $373,505,000 after buying an additional 129,929 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Bank of New York Mellon by 0.9% during the 3rd quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank's stock valued at $281,912,000 after buying an additional 57,402 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Bank of New York Mellon by 3.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank's stock valued at $272,425,000 after buying an additional 226,834 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Bank of New York Mellon by 10.0% during the 3rd quarter. Invesco Ltd. now owns 5,772,146 shares of the bank's stock valued at $246,182,000 after buying an additional 524,912 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

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 news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 4,498 shares of the 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 directly owns 123,490 shares in the company, valued at approximately $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.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Jefferies Financial Group boosted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, April 18th. Morgan Stanley boosted their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an "equal weight" rating in a report on Thursday, April 18th. Bank of America boosted their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Wednesday, April 17th. Finally, Citigroup boosted their price target on 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. Five equities 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 has an average rating of "Moderate Buy" and a consensus price target of $60.17.

Bank of New York Mellon Price Performance

NYSE:BK traded up $0.14 during trading hours on Thursday, reaching $56.60. The stock had a trading volume of 3,101,594 shares, compared to its average volume of 3,924,268. 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 Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28. The company has a 50 day moving average price of $56.11 and a two-hundred day moving average price of $52.16. The stock has a market capitalization of $42.61 billion, a PE ratio of 13.77, a PEG ratio of 1.21 and a beta of 1.11.

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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon's dividend payout ratio is currently 40.98%.

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.