Point72 Hong Kong Ltd Raises Position in The Bank of New York Mellon Co. (NYSE:BK)

Point72 Hong Kong Ltd increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,700 shares of the bank’s stock after acquiring an additional 1,300 shares during the period. Point72 Hong Kong Ltd’s holdings in Bank of New York Mellon were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its position in 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 acquiring an additional 82,671 shares during the period. Fifth Third Bancorp lifted its position in Bank of New York Mellon by 9.2% during the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock worth $7,226,000 after acquiring an additional 7,935 shares during the period. Natixis Advisors LLC lifted its position in Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock worth $21,971,000 after acquiring an additional 17,457 shares during the period. Western Financial Corp CA acquired a new stake in Bank of New York Mellon during the 4th quarter worth about $342,000. Finally, NEOS Investment Management LLC lifted its position in 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 acquiring an additional 11,200 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.5%

BK stock opened at $89.30 on Friday. The company’s 50-day simple moving average is $80.89 and its 200-day simple moving average is $81.24. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.34. The firm has a market cap of $63.89 billion, a P/E ratio of 15.37, a PEG ratio of 0.97 and a beta of 1.05.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the prior year, the company posted $1.29 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Insider Buying and Selling

In related news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. The trade was a 42.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The stock was 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 approximately $1,680,122.50. The trade was a 20.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,114 shares of company stock worth $7,869,795. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on BK. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Monday, March 3rd. Barclays increased their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Bank of America increased their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. StockNews.com downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.