Victory Capital Management Inc. Has $439.06 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Victory Capital Management Inc. lowered its stake in The Bank of New York Mellon Co. (NYSE:BK) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,435,345 shares of the bank’s stock after selling 322,098 shares during the quarter. Bank of New York Mellon makes up approximately 0.5% of Victory Capital Management Inc.’s investment portfolio, making the stock its 29th largest position. Victory Capital Management Inc. owned 1.10% of Bank of New York Mellon worth $439,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BK. Hartford Financial Management Inc. grew its position in 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 purchasing an additional 183 shares during the period. Blue Trust Inc. grew its position in Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after purchasing an additional 527 shares during the period. Addison Advisors LLC grew its position in Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after purchasing an additional 754 shares during the period. First Command Advisory Services Inc. acquired a new stake in Bank of New York Mellon in the 3rd quarter valued at $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Bank of New York Mellon during the 3rd quarter worth $49,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BK traded down $0.29 during midday trading on Wednesday, hitting $56.20. The stock had a trading volume of 1,193,417 shares, compared to its average volume of 3,898,316. The company has a market cap of $42.31 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.23 and a beta of 1.12. The business has a fifty day moving average of $56.08 and a 200 day moving average of $52.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal 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 issued a dividend of $0.42 per share. 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 is presently 40.98%.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,568 shares of company stock worth $5,459,897. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Bank of America lifted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Citigroup boosted 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. Evercore ISI boosted their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Jefferies Financial Group boosted their price objective 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, April 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

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.