Rockefeller Capital Management L.P. Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Rockefeller Capital Management L.P. grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 101.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,446 shares of the bank's stock after purchasing an additional 29,927 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Bank of New York Mellon were worth $4,563,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. McIlrath & Eck LLC increased its stake in shares of Bank of New York Mellon by 3.8% during the third quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank's stock valued at $493,000 after buying an additional 254 shares during the period. SkyView Investment Advisors LLC boosted its holdings in Bank of New York Mellon by 3.6% in the third quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock valued at $705,000 after acquiring an additional 345 shares in the last quarter. World Investment Advisors LLC purchased a new position in Bank of New York Mellon during the 3rd quarter valued at $2,617,000. Wilmington Savings Fund Society FSB lifted its position in shares of Bank of New York Mellon by 340.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock worth $2,011,000 after purchasing an additional 21,641 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Bank of New York Mellon by 7.1% during the 3rd quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock valued at $2,426,000 after purchasing an additional 2,240 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the company's stock in a transaction on Monday, April 14th. The stock was 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 owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's 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 directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $2.44 during trading on Wednesday, hitting $78.75. The company had a trading volume of 870,064 shares, compared to its average volume of 3,945,790. The stock has a 50 day simple moving average of $82.28 and a 200 day simple moving average of $80.41. The firm has a market capitalization of $56.54 billion, a P/E ratio of 13.55, a price-to-earnings-growth 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. The Bank of New York Mellon Co. has a 12 month low of $56.08 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. As a group, 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup upped 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. Morgan Stanley reduced 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 raised their price objective on Bank of New York Mellon from $94.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Evercore ISI upped their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Finally, Wolfe Research lowered shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

Bank of New York Mellon 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.