Sagespring Wealth Partners LLC Buys New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Sagespring Wealth Partners LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,241 shares of the bank's stock, valued at approximately $403,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BK. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $1,150,462,000. FMR LLC lifted its stake in Bank of New York Mellon by 19.3% in the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank's stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $90,955,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 purchasing an additional 1,125,493 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in Bank of New York Mellon during the fourth quarter worth $29,923,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BK. Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Morgan Stanley decreased 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Finally, Wells Fargo & Company boosted their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average target price of $91.31.

Bank of New York Mellon Stock Down 1.8 %

Shares of Bank of New York Mellon stock traded down $1.38 during trading hours on Monday, hitting $74.49. The company had a trading volume of 371,348 shares, compared to its average volume of 3,945,703. The company's 50-day moving average is $82.72 and its two-hundred day moving average is $80.43. The Bank of New York Mellon Co. has a twelve month low of $56.08 and a twelve month 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 company has a market cap of $53.48 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the business earned $1.29 EPS. The business'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 fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders 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 yield of 2.52%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.

Insider Transactions at Bank of New York Mellon

In other news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. This trade represents 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 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.