Hanlon Investment Management Inc. Makes New Investment in The Bank of New York Mellon Co. (NYSE:BK)

Hanlon Investment Management Inc. bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,015 shares of the bank's stock, valued at approximately $693,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McIlrath & Eck LLC grew its holdings in Bank of New York Mellon by 3.8% in the third quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank's stock valued at $493,000 after purchasing an additional 254 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of Bank of New York Mellon by 3.6% in the third quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock worth $705,000 after buying an additional 345 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $2,617,000. Wilmington Savings Fund Society FSB grew its position in shares of Bank of New York Mellon by 340.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock valued at $2,011,000 after purchasing an additional 21,641 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Bank of New York Mellon by 7.1% during the 3rd quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock worth $2,426,000 after acquiring an additional 2,240 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

NYSE BK traded up $0.52 on Friday, reaching $76.25. 4,317,948 shares of the stock traded hands, compared to its average volume of 3,959,539. The Bank of New York Mellon Co. has a 12 month low of $54.76 and a 12 month high of $90.34. 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 firm's fifty day simple moving average is $82.91 and its 200 day simple moving average is $80.26. The company has a market cap of $54.75 billion, a price-to-earnings ratio of 13.12, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.08. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company's revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $1.29 EPS. As a group, research analysts predict that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Insider Buying and Selling

In related news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction that occurred on 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction 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 completion of the transaction, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. This trade represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on BK shares. 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 report on Monday, March 17th. Evercore ISI increased their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. 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. Bank of America increased their price objective on shares of 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. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus price target of $89.64.

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.