Voya Investment Management LLC grew its position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,486,961 shares of the bank's stock after purchasing an additional 68,653 shares during the quarter. Voya Investment Management LLC owned about 0.20% of Bank of New York Mellon worth $114,243,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cape Investment Advisory Inc. lifted its stake in Bank of New York Mellon by 12.6% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock valued at $90,000 after buying an additional 131 shares in the last quarter. Syon Capital LLC raised its holdings in Bank of New York Mellon by 2.5% in the 4th quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock valued at $417,000 after acquiring an additional 132 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock valued at $2,653,000 after purchasing an additional 133 shares during the last quarter. Grove Bank & Trust boosted its stake in Bank of New York Mellon by 21.0% during the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank's stock worth $60,000 after buying an additional 135 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in shares of Bank of New York Mellon by 1.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank's stock worth $695,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.
Analyst Upgrades and Downgrades
BK has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Truist Financial cut their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a report on Monday, April 14th. UBS Group upped their price objective on Bank of New York Mellon from $88.00 to $94.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. 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. Finally, Citigroup upped their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus target price of $91.31.
View Our Latest Stock Report on BK
Bank of New York Mellon Stock Up 0.4 %
Shares of Bank of New York Mellon stock traded up $0.29 during trading on Monday, hitting $78.94. 2,995,319 shares of the stock were exchanged, compared to its average volume of 3,968,784. 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 stock has a market cap of $56.68 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The firm's 50-day moving average price is $81.68 and its 200 day moving average price is $80.56.
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, topping 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 firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. As a group, 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 business 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 annualized dividend and a yield of 2.38%. Bank of New York Mellon's dividend payout ratio is presently 30.62%.
Insider Transactions at Bank of New York Mellon
In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction 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 transaction, the insider now owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $5,061,717.63. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.
Bank of New York Mellon Profile
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Free Report)
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.
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