Kovitz Investment Group Partners LLC Increases Position in The Bank of New York Mellon Co. (NYSE:BK)

Kovitz Investment Group Partners LLC raised its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 106.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 380,084 shares of the bank's stock after acquiring an additional 196,090 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.05% of Bank of New York Mellon worth $29,202,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BK. FMR LLC lifted its holdings in Bank of New York Mellon by 19.3% in the fourth 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 period. Norges Bank acquired a new stake in Bank of New York Mellon during the fourth quarter valued at $1,150,462,000. Arrowstreet Capital Limited Partnership increased its holdings 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 buying an additional 1,125,493 shares in the last quarter. Invesco Ltd. increased its holdings in Bank of New York Mellon by 2.4% in the fourth 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 in the last quarter. Finally, Amundi raised its position 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 acquiring an additional 359,942 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company's 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 sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

BK has been the subject of several recent analyst reports. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Evercore ISI boosted their price target on shares of 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. Barclays lifted their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Morgan Stanley lowered their price objective 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a research note on Monday, March 17th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.31.

Bank of New York Mellon Trading Up 0.4 %

Shares of NYSE:BK traded up $0.29 during midday trading on Monday, reaching $78.94. 2,995,319 shares of the company's stock were exchanged, compared to its average volume of 3,968,784. The firm's 50 day simple moving average is $81.50 and its two-hundred day simple moving average is $80.59. The Bank of New York Mellon Co. has a fifty-two week low of $56.08 and a fifty-two week high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock has a market cap of $56.68 billion, a price-to-earnings ratio of 13.59, 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 issued 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 net margin of 11.35% and a return on equity of 12.68%. The firm 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 business posted $1.29 EPS. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, sell-side 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 Dividend Announcement

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 paid 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 2.38%. Bank of New York Mellon's payout ratio is presently 30.62%.

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.