Mirova Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Mirova acquired a new position 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 SEC. The firm acquired 17,162 shares of the bank's stock, valued at approximately $1,319,000.

Several other institutional investors have also recently made changes to their positions in BK. McIlrath & Eck LLC increased 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 buying an additional 254 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in shares of Bank of New York Mellon by 3.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock valued at $705,000 after purchasing an additional 345 shares in the last quarter. World Investment Advisors LLC acquired a new position in Bank of New York Mellon in the 3rd quarter worth about $2,617,000. Wilmington Savings Fund Society FSB boosted its position in Bank of New York Mellon by 340.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock worth $2,011,000 after purchasing an additional 21,641 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Bank of New York Mellon by 7.1% in the third quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock valued at $2,426,000 after purchasing an additional 2,240 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BK. Evercore ISI increased 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. UBS Group increased 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 report on Tuesday, January 21st. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Bank of America raised their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, Morgan Stanley cut their price objective 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. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Insider Transactions 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 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. This trade represents 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.

Bank of New York Mellon Trading Up 1.9 %

Bank of New York Mellon stock traded up $1.43 during trading on Wednesday, reaching $77.74. 3,764,119 shares of the company were exchanged, compared to its average volume of 3,961,325. The stock's 50 day simple moving average is $82.28 and its two-hundred day simple moving average is $80.41. The company has a market capitalization of $55.82 billion, a P/E ratio of 13.38, a PEG ratio of 0.97 and a beta of 1.03. 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 Bank of New York Mellon Co. has a 52-week low of $56.08 and a 52-week high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the firm earned $1.29 EPS. The company's quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.42%. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

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.