Virtus ETF Advisers LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Virtus ETF Advisers LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,038 shares of the bank's stock, valued at approximately $1,155,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Analysts LLC boosted its position in shares of Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock worth $255,000 after purchasing an additional 119 shares in the last quarter. Voya Financial Advisors Inc. boosted its position in shares of Bank of New York Mellon by 5.9% during the fourth quarter. Voya Financial Advisors Inc. now owns 16,848 shares of the bank's stock worth $1,299,000 after purchasing an additional 932 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Bank of New York Mellon by 106.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 380,084 shares of the bank's stock worth $29,202,000 after purchasing an additional 196,090 shares in the last quarter. Keyvantage Wealth LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter worth $506,000. Finally, Hancock Whitney Corp boosted its position in shares of Bank of New York Mellon by 2.9% during the fourth quarter. Hancock Whitney Corp now owns 154,459 shares of the bank's stock worth $11,867,000 after purchasing an additional 4,303 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BK shares. Barclays lifted their price target on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Wolfe Research cut shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Truist Financial cut their price objective on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley lowered their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Evercore ISI lifted their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research note on Tuesday, April 1st. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.31.

Insider Activity

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. This represents a 20.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This represents a 42.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $0.68 during trading hours on Thursday, reaching $81.09. The company's stock had a trading volume of 1,209,874 shares, compared to its average volume of 3,965,302. The firm's 50 day simple moving average is $81.22 and its 200-day simple moving average is $80.59. The company has a market capitalization of $58.22 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a fifty-two week low of $56.08 and a fifty-two week high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. Bank of New York Mellon's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $1.29 EPS. Sell-side analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

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.