The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 10.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,937 shares of the bank’s stock after buying an additional 2,289 shares during the quarter. Ritholtz Wealth Management’s holdings in Bank of New York Mellon were worth $1,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $503,489,000. Moneta Group Investment Advisors LLC grew its position in shares of Bank of New York Mellon by 74,433.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock valued at $278,343,000 after acquiring an additional 6,106,537 shares during the period. Thrivent Financial for Lutherans raised its holdings in Bank of New York Mellon by 897.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,822,554 shares of the bank’s stock worth $81,139,000 after purchasing an additional 1,639,869 shares during the period. Barclays PLC grew its holdings in Bank of New York Mellon by 126.2% in the second quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock valued at $128,462,000 after purchasing an additional 1,609,730 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Bank of New York Mellon in the first quarter valued at approximately $66,916,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Hanneke Smits sold 15,425 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total value of $850,843.00. Following the transaction, the vice president now directly owns 119,656 shares of the company’s stock, valued at approximately $6,600,224.96. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BK. JPMorgan Chase & Co. upgraded Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price on the stock in a research report on Monday, December 18th. UBS Group boosted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. Finally, Citigroup increased their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $55.65.

Bank of New York Mellon Stock Up 1.2 %

Shares of NYSE:BK opened at $57.63 on Friday. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $57.88. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average of $55.42 and a two-hundred day moving average of $49.80. The stock has a market cap of $43.39 billion, a P/E ratio of 14.52, a PEG ratio of 1.20 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Friday, January 12th. The bank reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.16. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. Bank of New York Mellon’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.26 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Monday, January 22nd were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.92%. Bank of New York Mellon’s dividend payout ratio (DPR) is 42.32%.

About Bank of New York Mellon

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.