Citizens Financial Group Inc. RI Buys 632 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Citizens Financial Group Inc. RI raised its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,475 shares of the bank’s stock after purchasing an additional 632 shares during the period. Citizens Financial Group Inc. RI’s holdings in Bank of New York Mellon were worth $1,846,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hartford Financial Management Inc. lifted its holdings in shares of Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares during the period. Addison Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 603.2% during the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after acquiring an additional 754 shares during the period. First Command Advisory Services Inc. bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $38,000. Blue Trust Inc. lifted its holdings in shares of Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth about $49,000. 85.31% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,568 shares of company stock valued at $5,459,897. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Stock Up 0.2 %

BK traded up $0.14 during trading on Friday, reaching $57.32. The company had a trading volume of 2,058,025 shares, compared to its average volume of 3,589,079. 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 Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The business’s fifty day moving average price is $56.01 and its 200 day moving average price is $51.77. The company has a market cap of $43.15 billion, a P/E ratio of 13.98, a PEG ratio of 1.23 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data 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 firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts anticipate that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm 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 $0.42 dividend. The ex-dividend date 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 payout ratio is presently 40.98%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of 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. Citigroup raised their price objective on shares of 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. UBS Group raised their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Jefferies Financial Group increased 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 report on Thursday, April 18th. Finally, Evercore ISI increased their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.17.

About Bank of New York Mellon

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.