Point72 Asia Singapore Pte. Ltd. Has $1.71 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 58.5% during the fourth quarter, HoldingsChannel reports. The firm owned 22,238 shares of the bank’s stock after acquiring an additional 8,206 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Bank of New York Mellon were worth $1,709,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC increased its stake in shares of Bank of New York Mellon by 11.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock worth $60,426,000 after purchasing an additional 82,671 shares during the last quarter. Fifth Third Bancorp grew its holdings in Bank of New York Mellon by 9.2% during the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after purchasing an additional 7,935 shares during the period. Natixis Advisors LLC grew its holdings in Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after purchasing an additional 17,457 shares during the period. Western Financial Corp CA bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $342,000. Finally, NEOS Investment Management LLC lifted its stake in shares of Bank of New York Mellon by 31.6% during the 4th quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank’s stock worth $3,584,000 after buying an additional 11,200 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

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, EVP J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock in a transaction on 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 sale, the executive vice president now owns 55,115 shares of the company’s stock, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,114 shares of company stock worth $7,869,795. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BK. Bank of America increased their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Citigroup boosted their price objective 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. Six equities research 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.31.

Bank of New York Mellon Stock Down 0.1%

NYSE BK opened at $87.86 on Thursday. The business has a fifty day moving average price of $80.78 and a two-hundred day moving average price of $81.15. The stock has a market capitalization of $62.86 billion, a PE ratio of 15.12, a PEG ratio of 0.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The Bank of New York Mellon Co. has a fifty-two week low of $57.18 and a fifty-two week high of $90.34.

Bank of New York Mellon (NYSE:BK) 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. Equities 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 firm 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. The ex-dividend date was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.14%. Bank of New York Mellon’s dividend payout ratio is 30.62%.

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.