MML Investors Services LLC Raises Position in The Bank of New York Mellon Co. (NYSE:BK)

MML Investors Services LLC lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 35.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 238,509 shares of the bank's stock after buying an additional 62,952 shares during the quarter. MML Investors Services LLC's holdings in Bank of New York Mellon were worth $18,325,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Graney & King LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $35,000. Centricity Wealth Management LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth approximately $39,000. TCTC Holdings LLC raised its position in shares of Bank of New York Mellon by 257.5% in the 4th quarter. TCTC Holdings LLC now owns 597 shares of the bank's stock valued at $46,000 after purchasing an additional 430 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $49,000. Finally, Friedenthal Financial acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth approximately $56,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on BK. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. UBS Group boosted their price objective on 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. Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, March 24th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 price target on shares of Bank of New York Mellon in a report on Monday, March 17th. Finally, StockNews.com cut Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average price target of $91.31.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $74.06 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm's 50 day moving average is $82.49 and its two-hundred day moving average is $80.44. The firm has a market capitalization of $53.17 billion, a P/E ratio of 12.75, a PEG ratio of 0.97 and a beta of 1.03. 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 announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the previous year, the firm posted $1.29 EPS. The firm's quarterly revenue was up 5.9% on a year-over-year basis. Analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business 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. This represents a $1.88 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

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 company's stock in a transaction dated 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 sale, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This represents a 42.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred 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 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.

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.

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