Townsquare Capital LLC Purchases 7,543 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Townsquare Capital LLC lifted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 34.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,544 shares of the bank's stock after purchasing an additional 7,543 shares during the period. Townsquare Capital LLC's holdings in Bank of New York Mellon were worth $2,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BK. Crux Wealth Advisors purchased a new stake in Bank of New York Mellon in the 4th quarter worth about $353,000. Rockefeller Capital Management L.P. boosted its holdings in Bank of New York Mellon by 101.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 59,446 shares of the bank's stock worth $4,563,000 after buying an additional 29,927 shares during the period. Petros Family Wealth LLC purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $316,000. Sterling Capital Management LLC raised its holdings in Bank of New York Mellon by 8.0% during the 4th quarter. Sterling Capital Management LLC now owns 91,459 shares of the bank's stock valued at $7,027,000 after acquiring an additional 6,802 shares during the period. Finally, Heritage Trust Co bought a new position in shares of Bank of New York Mellon in the fourth quarter worth $262,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction dated 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 transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the sale, the insider now 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. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Trading Down 1.8 %

NYSE:BK traded down $1.38 during mid-day trading on Monday, reaching $74.49. 371,348 shares of the company's stock traded hands, compared to its average volume of 3,945,703. The Bank of New York Mellon Co. has a 12-month low of $56.08 and a 12-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 50 day moving average price of $82.72 and a 200-day moving average price of $80.43. The firm has a market capitalization of $53.48 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.97 and a beta of 1.03.

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 (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the firm earned $1.29 EPS. The company's quarterly revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts predict 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 business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders 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 dividend yield of 2.52%. Bank of New York Mellon's dividend payout ratio is currently 30.62%.

Analyst Ratings Changes

BK has been the subject of several analyst reports. Bank of America raised their target price on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised their price target 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. Wolfe Research downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. StockNews.com downgraded Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, 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 for the company in a research report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $91.31.

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.