Sapient Capital LLC Makes New $267,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Sapient Capital LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, Holdings Channel reports. The firm purchased 5,128 shares of the bank’s stock, valued at approximately $267,000.

Other institutional investors have also recently bought and sold shares of the company. Northern Trust Corp raised its position in Bank of New York Mellon by 8.2% in the third 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 period. Victory Capital Management Inc. lifted its position in shares of Bank of New York Mellon by 1.5% during the 3rd quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock valued at $373,505,000 after buying an additional 129,929 shares during the last quarter. LSV Asset Management increased its holdings in Bank of New York Mellon by 1.0% in the 4th quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock worth $383,723,000 after acquiring an additional 72,880 shares during the last quarter. Legal & General Group Plc boosted its position in 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 worth $281,912,000 after purchasing an additional 57,402 shares during the period. Finally, Invesco Ltd. raised its position in shares of 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 valued at $246,182,000 after purchasing an additional 524,912 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other 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 transaction of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred 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 owns 123,490 shares in the company, valued at approximately $6,768,486.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,568 shares of company stock valued at $5,459,897. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $57.48 on Tuesday. The company’s fifty day moving average is $56.21 and its 200 day moving average is $52.53. 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 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 market cap of $43.27 billion, a PE ratio of 14.02, a PEG ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the company posted $1.13 EPS. Bank of New York Mellon’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts anticipate that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BK shares. Bank of America boosted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Citigroup increased their price objective 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, Jefferies Financial Group raised their price target on 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. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $60.17.

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.