The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. lessened its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,127 shares of the bank’s stock after selling 528 shares during the quarter. Twin Capital Management Inc.’s holdings in Bank of New York Mellon were worth $1,724,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Quent Capital LLC grew its stake in Bank of New York Mellon by 3.8% during the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after acquiring an additional 182 shares in the last quarter. Hartford Financial Management Inc. grew its stake in shares of Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares in the last quarter. Commonwealth Retirement Investments LLC grew its stake in shares of Bank of New York Mellon by 0.8% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock valued at $1,445,000 after buying an additional 221 shares in the last quarter. Laurel Wealth Advisors Inc. grew its stake in shares of Bank of New York Mellon by 1.7% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 14,451 shares of the bank’s stock valued at $717,000 after buying an additional 245 shares in the last quarter. Finally, Arjuna Capital grew its stake in shares of Bank of New York Mellon by 0.5% in the 3rd quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock valued at $2,066,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BK has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America boosted their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Citigroup upped their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, UBS Group upped their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.15.

Bank of New York Mellon Stock Up 1.4 %

Shares of BK stock opened at $55.24 on Friday. 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 $41.58 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.15 and a beta of 1.12. The stock has a 50 day moving average of $55.74 and a 200-day moving average of $51.13. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

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

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid 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 3.04%. Bank of New York Mellon’s payout ratio is 40.98%.

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.