CSM Advisors LLC Sells 4,945 Shares of The Bank of New York Mellon Co. (NYSE:BK)

CSM Advisors LLC reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,218 shares of the bank's stock after selling 4,945 shares during the quarter. CSM Advisors LLC's holdings in Bank of New York Mellon were worth $8,545,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Transce3nd LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $33,000. Graney & King LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth $35,000. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at $39,000. TCTC Holdings LLC boosted its position in Bank of New York Mellon by 257.5% during the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after buying an additional 430 shares during the period. Finally, Modus Advisors LLC bought a new stake in Bank of New York Mellon in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analysts Set New Price Targets

BK has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, March 3rd. StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Morgan Stanley dropped 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 note on Wednesday, April 2nd. Wolfe Research lowered shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Stock Up 3.0 %

Shares of Bank of New York Mellon stock opened at $76.25 on Wednesday. The company has a 50-day simple moving average of $82.28 and a two-hundred day simple moving average of $80.41. 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 debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market capitalization of $54.75 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period last year, the company earned $1.29 EPS. Bank of New York Mellon's revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be issued a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.47%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insider Activity

In other news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on 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 of the company's stock, valued at $1,680,122.50. The trade was a 20.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

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.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bank of New York Mellon Co. (NYSE:BK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.