Sterling Capital Management LLC Purchases 6,802 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Sterling Capital Management LLC lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,459 shares of the bank's stock after purchasing an additional 6,802 shares during the quarter. Sterling Capital Management LLC's holdings in Bank of New York Mellon were worth $7,027,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cape Investment Advisory Inc. increased its position in shares of Bank of New York Mellon by 12.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock worth $90,000 after acquiring an additional 131 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Bank of New York Mellon by 0.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock worth $2,653,000 after buying an additional 133 shares during the last quarter. Grove Bank & Trust raised its position in Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank's stock worth $60,000 after acquiring an additional 135 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Bank of New York Mellon by 1.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock valued at $695,000 after acquiring an additional 139 shares during the period. Finally, Stratos Investment Management LLC increased its stake in shares of Bank of New York Mellon by 2.9% during the 4th quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank's stock worth $393,000 after purchasing an additional 142 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon 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 completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the 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 sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

BK has been the subject of a number of recent research reports. Barclays raised their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. StockNews.com lowered shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Wolfe Research cut shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Citigroup lifted their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $89.64.

Bank of New York Mellon Stock Up 2.1 %

Shares of BK traded up $1.55 on Thursday, hitting $77.28. 1,566,857 shares of the stock traded hands, compared to its average volume of 4,424,115. The company has a market capitalization of $55.49 billion, a PE ratio of 13.30, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a one year low of $54.76 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The business has a 50 day simple moving average of $83.08 and a 200 day simple moving average of $80.23.

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 (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter in the prior year, the business earned $1.29 EPS. The business's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, equities analysts forecast 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. Shareholders of record on Monday, April 21st will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.43%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

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.