Natixis Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Natixis raised its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 714.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,527 shares of the bank's stock after acquiring an additional 128,541 shares during the period. Natixis' holdings in Bank of New York Mellon were worth $11,258,000 as of its most recent filing with the Securities & Exchange Commission.

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

Bank of New York Mellon Stock Performance

Shares of BK traded up $1.43 during trading hours on Wednesday, hitting $77.74. The stock had a trading volume of 3,764,119 shares, compared to its average volume of 3,961,325. The firm has a 50-day moving average price of $82.28 and a 200 day moving average price of $80.41. 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 firm has a market capitalization of $55.82 billion, a price-to-earnings 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 quick ratio of 0.70 and a current ratio of 0.69.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The company's revenue was up 5.9% compared to the same quarter last year. As a group, research analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. 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%.

Analyst Upgrades and Downgrades

BK has been the topic of several research analyst reports. Truist Financial dropped their target price on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Wells Fargo & Company raised their target price 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. Morgan Stanley dropped their price target on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $91.31.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction 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 sale, the vice president now owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was 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 the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction 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. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.