Heritage Trust Co Buys Shares of 3,406 The Bank of New York Mellon Co. (NYSE:BK)

Heritage Trust Co purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,406 shares of the bank's stock, valued at approximately $262,000.

A number of other institutional investors have also recently made changes to their positions in BK. FMR LLC grew its position in Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock valued at $1,772,590,000 after acquiring an additional 3,732,862 shares during the last quarter. Norges Bank purchased a new position in Bank of New York Mellon in the fourth quarter worth $1,150,462,000. Arrowstreet Capital Limited Partnership increased its position in Bank of New York Mellon by 17.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after buying an additional 1,125,493 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Bank of New York Mellon by 2.4% during the fourth quarter. Invesco Ltd. now owns 7,596,210 shares of the bank's stock valued at $583,617,000 after acquiring an additional 175,704 shares in the last quarter. Finally, Amundi raised its holdings in shares of Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after buying an additional 359,942 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Insiders Place Their Bets

In related news, VP Catherine Keating sold 65,473 shares of the firm'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 transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's 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 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 disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on BK. Wells Fargo & Company raised their price objective on 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. Deutsche Bank Aktiengesellschaft lifted their price target on 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. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Evercore ISI raised their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Finally, UBS Group upped their price objective on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.64.

Bank of New York Mellon Trading Up 0.7 %

Shares of NYSE BK traded up $0.52 during trading on Friday, reaching $76.25. The stock had a trading volume of 4,317,948 shares, compared to its average volume of 3,959,539. 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 company has a market cap of $54.75 billion, a P/E ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03. The business's 50-day moving average price is $82.91 and its 200-day moving average price is $80.26. The Bank of New York Mellon Co. has a fifty-two week low of $54.76 and a fifty-two week high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. On average, equities 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 Announces Dividend

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

Bank of New York Mellon 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.