LGT Group Foundation Acquires 42,230 Shares of The Bank of New York Mellon Co. (NYSE:BK)

LGT Group Foundation increased its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 21.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 237,886 shares of the bank's stock after purchasing an additional 42,230 shares during the period. LGT Group Foundation's holdings in Bank of New York Mellon were worth $12,422,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Searle & CO. acquired a new position in Bank of New York Mellon in the fourth quarter valued at about $234,000. Mirae Asset Global Investments Co. Ltd. grew its position in Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank's stock worth $11,596,000 after acquiring an additional 40,969 shares during the last quarter. Trust Point Inc. acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $310,000. WCG Wealth Advisors LLC bought a new position in Bank of New York Mellon in the 3rd quarter valued at $1,552,000. Finally, Meeder Asset Management Inc. acquired a new position in Bank of New York Mellon in the fourth quarter worth $1,298,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. UBS Group lifted their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, January 9th. Bank of America upped their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Wednesday, April 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Evercore ISI upped their target price 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. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $60.17.

Bank of New York Mellon Trading Up 0.7 %

Shares of BK traded up $0.41 during trading hours on Friday, reaching $57.01. The stock had a trading volume of 2,214,001 shares, compared to its average volume of 3,905,380. The company has a market cap of $42.92 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.21 and a beta of 1.11. 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 quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average of $56.14 and a 200 day moving average of $52.19.

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 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. 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 firm posted $1.13 earnings per share. Bank of New York Mellon's revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect 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 business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon's payout ratio is presently 40.98%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 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 can be accessed through this link. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction dated 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 transaction, the vice president now owns 78,350 shares of the company's stock, valued at $4,299,848. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,568 shares of company stock worth $5,459,897. Corporate insiders own 0.14% of the company's stock.

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.