Nissay Asset Management Corp Japan ADV Buys 1,036 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Nissay Asset Management Corp Japan ADV lifted its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 91,761 shares of the bank’s stock after purchasing an additional 1,036 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Bank of New York Mellon were worth $7,118,000 as of its most recent SEC filing.

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

Bank of New York Mellon Stock Up 1.5%

Bank of New York Mellon stock opened at $89.30 on Friday. The stock has a market cap of $63.89 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a fifty day moving average of $80.89 and a 200 day moving average of $81.24. The Bank of New York Mellon Co. has a one year low of $57.18 and a one year high of $90.34.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 EPS. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

Insider Activity

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares of the company’s stock, valued at $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 of the company’s stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,114 shares of company stock valued at $7,869,795 in the last 90 days. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Bank of America upped their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a report on Monday, March 17th. Morgan Stanley lowered their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.