Carret Asset Management LLC Sells 200 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Carret Asset Management LLC lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,400 shares of the bank’s stock after selling 200 shares during the period. Carret Asset Management LLC’s holdings in Bank of New York Mellon were worth $1,270,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Northern Trust Corp lifted its holdings in shares of Bank of New York Mellon by 8.2% during the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after acquiring an additional 715,421 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Bank of New York Mellon by 1.5% during the third quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock valued at $373,505,000 after purchasing an additional 129,929 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Bank of New York Mellon by 0.9% during the third quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock valued at $281,912,000 after purchasing an additional 57,402 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Bank of New York Mellon by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock valued at $272,425,000 after acquiring an additional 226,834 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Bank of New York Mellon by 10.0% in the third quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock worth $246,182,000 after purchasing an additional 524,912 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BK. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Citigroup lifted their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Finally, Bank of America boosted their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Stock Down 1.0 %

Bank of New York Mellon stock traded down $0.58 during trading on Thursday, reaching $56.95. The stock had a trading volume of 1,058,632 shares, compared to its average volume of 3,948,921. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The business has a 50 day moving average price of $55.93 and a 200 day moving average price of $51.63. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The stock has a market cap of $42.88 billion, a PE ratio of 14.13, a P/E/G ratio of 1.24 and a beta of 1.12.

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. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the company posted $1.13 EPS. Bank of New York Mellon’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Insider Buying and Selling

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,568 shares of company stock valued at $5,459,897. 0.14% of the stock is currently owned by corporate insiders.

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.