LSV Asset Management Buys 72,880 Shares of The Bank of New York Mellon Co. (NYSE:BK)

LSV Asset Management increased its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,372,209 shares of the bank's stock after buying an additional 72,880 shares during the quarter. Bank of New York Mellon accounts for approximately 0.8% of LSV Asset Management's investment portfolio, making the stock its 19th largest position. LSV Asset Management owned approximately 0.96% of Bank of New York Mellon worth $383,723,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in Bank of New York Mellon by 1.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 190,074 shares of the bank's stock valued at $8,107,000 after purchasing an additional 1,905 shares during the period. Chevy Chase Trust Holdings LLC increased its position in Bank of New York Mellon by 5.9% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 440,165 shares of the bank's stock valued at $18,773,000 after purchasing an additional 24,550 shares during the period. Pinnacle Associates Ltd. increased its position in Bank of New York Mellon by 1.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 75,122 shares of the bank's stock valued at $3,204,000 after purchasing an additional 750 shares during the period. Tectonic Advisors LLC acquired a new stake in Bank of New York Mellon during the 3rd quarter valued at approximately $275,000. Finally, Raymond James & Associates increased its position in Bank of New York Mellon by 5.9% during the 3rd quarter. Raymond James & Associates now owns 470,999 shares of the bank's stock valued at $20,088,000 after purchasing an additional 26,219 shares during the period. Institutional investors and hedge funds own 85.31% of the company's stock.

Insider Buying and Selling

In related 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through 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 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 directly owns 100,404 shares of the company's stock, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock worth $5,459,897 in the last quarter. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BK has been the topic of a number of research analyst reports. Jefferies Financial Group increased 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. Evercore ISI increased their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an "in-line" rating in a report on Thursday, April 4th. 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 report on Wednesday, March 27th. Bank of America increased their target price 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, Morgan Stanley increased their target price 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. 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, Bank of New York Mellon has a consensus rating of "Moderate Buy" and a consensus target price of $60.17.

Bank of New York Mellon Price Performance

BK stock traded up $0.40 during mid-day trading on Friday, reaching $57.00. 2,214,001 shares of the company traded hands, compared to its average volume of 3,813,908. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The company has a market capitalization of $42.91 billion, a P/E ratio of 13.90, a P/E/G ratio of 1.23 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 fifty day moving average price of $56.16 and a 200-day moving average price of $52.42.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. As a group, analysts anticipate that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared 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. 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 2.95%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 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.