GeoWealth Management LLC Grows Stake in The Bank of New York Mellon Co. (NYSE:BK)

GeoWealth Management LLC increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 9.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,923 shares of the bank’s stock after purchasing an additional 910 shares during the quarter. GeoWealth Management LLC’s holdings in Bank of New York Mellon were worth $839,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $1,150,462,000. FMR LLC increased its position in Bank of New York Mellon by 19.3% during the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock worth $1,772,590,000 after buying an additional 3,732,862 shares during the period. Raymond James Financial Inc. purchased a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $90,955,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after acquiring an additional 1,125,493 shares during the period. Finally, Marshall Wace LLP grew its position in shares of Bank of New York Mellon by 31.1% during the fourth quarter. Marshall Wace LLP now owns 2,357,923 shares of the bank’s stock worth $181,159,000 after acquiring an additional 559,818 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.7 %

BK stock opened at $76.25 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $82.72 and its 200 day moving average price is $80.36. The Bank of New York Mellon Co. has a 52 week low of $56.08 and a 52 week high of $90.34. The company has a market cap of $54.75 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.29 EPS. On average, research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 30.62%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BK. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. UBS Group raised their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Evercore ISI upped their price objective on 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. Bank of America lifted their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $91.31.

Insider Buying and Selling

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

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.