NewEdge Advisors LLC Has $33.28 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

NewEdge Advisors LLC increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 1,556.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 433,202 shares of the bank's stock after acquiring an additional 407,054 shares during the quarter. NewEdge Advisors LLC owned about 0.06% of Bank of New York Mellon worth $33,283,000 as of its most recent SEC filing.

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

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the firm's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares in the company, valued at $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 Price Performance

Shares of BK traded down $1.60 during mid-day trading on Monday, hitting $74.27. The company's stock had a trading volume of 781,319 shares, compared to its average volume of 3,947,119. The firm has a market capitalization of $53.32 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 1-year low of $56.08 and a 1-year high of $90.34. The firm has a 50-day simple moving average of $82.72 and a 200 day simple moving average of $80.43. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

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 EPS 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 period in the previous year, the firm posted $1.29 earnings per share. The company's quarterly revenue was up 5.9% compared to the same quarter last year. 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 company also recently announced 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. The ex-dividend date of this dividend is Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.53%. Bank of New York Mellon's payout ratio is 30.62%.

Analyst Upgrades and Downgrades

BK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Morgan Stanley cut 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 research report on Wednesday, April 2nd. Finally, Wolfe Research cut Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

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.