J. Safra Sarasin Holding AG Boosts Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

J. Safra Sarasin Holding AG boosted its holdings in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 419.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 290,453 shares of the bank's stock after acquiring an additional 234,538 shares during the period. J. Safra Sarasin Holding AG's holdings in Bank of New York Mellon were worth $22,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its holdings 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 in the last quarter. Norges Bank acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $1,150,462,000. Arrowstreet Capital Limited Partnership raised its position in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank's stock valued at $595,526,000 after purchasing an additional 1,125,493 shares during the last quarter. Invesco Ltd. raised its holdings in Bank of New York Mellon by 2.4% in the 4th quarter. Invesco Ltd. now owns 7,596,210 shares of the bank's stock valued at $583,617,000 after buying an additional 175,704 shares during the last quarter. Finally, Amundi grew its holdings in Bank of New York Mellon by 5.1% during the 4th quarter. Amundi now owns 7,363,015 shares of the bank's stock worth $573,947,000 after acquiring an additional 359,942 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Citigroup boosted their price objective on 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. UBS Group raised their price target on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Truist Financial decreased their price objective on Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Morgan Stanley dropped their target price on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $91.31.

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 dated 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 of the company's stock, valued at $1,680,122.50. The trade was a 20.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

BK traded up $1.43 during trading on Wednesday, hitting $77.74. 3,764,119 shares of the company traded hands, compared to its average volume of 3,961,331. The firm has a market cap of $55.82 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. 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 one year low of $56.08 and a one year high of $90.34. The stock's fifty day moving average is $82.08 and its 200 day moving average is $80.39.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter last year, the business posted $1.29 EPS. Bank of New York Mellon's quarterly revenue was up 5.9% compared to the same quarter last year. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.42%. 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.