Stephens Inc. AR Buys 512 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Stephens Inc. AR raised its stake in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 0.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 69,559 shares of the bank’s stock after acquiring an additional 512 shares during the period. Stephens Inc. AR’s holdings in Bank of New York Mellon were worth $3,621,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. United Services Automobile Association raised its stake in shares of Bank of New York Mellon by 6.9% during the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock worth $1,325,000 after purchasing an additional 1,640 shares during the period. Searle & CO. bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $234,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 purchasing an additional 40,969 shares during the period. Janney Capital Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $243,000. Finally, Trust Point Inc. bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $310,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Up 0.7 %

Shares of NYSE BK opened at $60.31 on Friday. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $60.67. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $45.10 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.23 and a beta of 1.08. The business has a 50-day moving average of $57.58 and a 200-day moving average of $54.84.

Bank of New York Mellon (NYSE:BKGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Bank of New York Mellon’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.79%. Bank of New York Mellon’s payout ratio is 40.98%.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares in the company, valued at approximately $1,410,363.78. 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, VP Catherine Keating sold 54,070 shares of the business’s 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 sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares of the company’s stock, valued at approximately $1,410,363.78. The disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock worth $6,475,216 in the last quarter. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BK. Jefferies Financial Group lifted their target price on 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. Citigroup lifted their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Morgan Stanley lifted 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 research note on Thursday, April 18th. Bank of America boosted their price objective 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. Finally, Evercore ISI boosted their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Get Our Latest Research Report on BK

About Bank of New York Mellon

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BKFree Report).

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.