Metis Global Partners LLC Has $2.38 Million Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Metis Global Partners LLC reduced its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,785 shares of the bank’s stock after selling 606 shares during the quarter. Metis Global Partners LLC’s holdings in Bank of New York Mellon were worth $2,383,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BK. Hartford Financial Management Inc. grew its stake in Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares during the period. Addison Advisors LLC grew its holdings in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after buying an additional 754 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Bank of New York Mellon during the third quarter valued at about $38,000. Blue Trust Inc. increased its position in shares of Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter worth about $49,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BK has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on 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. Bank of America raised their price objective 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, April 17th. Jefferies Financial Group increased their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. UBS Group upped their price objective on shares of 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Price Performance

NYSE:BK opened at $57.90 on Tuesday. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The stock has a fifty day moving average of $56.21 and a 200 day moving average of $52.53. 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 firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $1.13 EPS. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Insider Activity

In related news, 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 directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 transaction of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’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 directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 98,568 shares of company stock worth $5,459,897. 0.14% of the stock is currently owned by corporate insiders.

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.