The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,400 shares of the bank’s stock after selling 3,559 shares during the quarter. Calamos Advisors LLC’s holdings in Bank of New York Mellon were worth $14,178,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Xponance Inc. raised its holdings in Bank of New York Mellon by 0.8% during the fourth quarter. Xponance Inc. now owns 115,192 shares of the bank’s stock worth $5,996,000 after purchasing an additional 914 shares in the last quarter. Guardian Investment Management acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $294,000. HF Advisory Group LLC boosted its stake in shares of Bank of New York Mellon by 33.0% in the fourth quarter. HF Advisory Group LLC now owns 6,663 shares of the bank’s stock valued at $347,000 after buying an additional 1,655 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Bank of New York Mellon by 95.1% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,539 shares of the bank’s stock worth $80,000 after acquiring an additional 750 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Bank of New York Mellon by 10.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 75,900 shares of the bank’s stock valued at $3,950,000 after acquiring an additional 6,960 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity

In related news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 1.6 %

BK stock traded up $0.91 during midday trading on Friday, hitting $56.16. The stock had a trading volume of 718,814 shares, compared to its average volume of 3,974,578. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The firm has a market cap of $42.28 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. The company’s 50-day moving average price is $55.74 and its 200 day moving average price is $51.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.13 EPS. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 5.4 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.99%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Bank of America upped their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Citigroup raised their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $59.15.

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.