The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by Family Management Corp

Family Management Corp boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,968 shares of the bank’s stock after acquiring an additional 1,741 shares during the quarter. Family Management Corp’s holdings in Bank of New York Mellon were worth $2,687,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $28,000. Transce3nd LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $33,000. South Plains Financial Inc. acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $34,000. Finally, Graney & King LLC purchased a new position in Bank of New York Mellon during the 4th quarter worth approximately $35,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $83.96 on Thursday. The company has a market cap of $60.28 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The Bank of New York Mellon Co. has a one year low of $57.12 and a one year high of $90.34. The business has a fifty day moving average of $80.72 and a two-hundred day moving average of $80.78. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.76 billion. During the same quarter last year, the business earned $1.29 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts predict 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s payout ratio is currently 30.62%.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the completion of the transaction, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. The trade was a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BK has been the subject of several research analyst reports. UBS Group increased their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Morgan Stanley lowered their price objective 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 report on Wednesday, April 2nd. Citigroup upped their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $91.31.

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.