Balentine LLC Purchases 309 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Balentine LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,485 shares of the bank’s stock after acquiring an additional 309 shares during the period. Balentine LLC’s holdings in Bank of New York Mellon were worth $390,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $28,000. Hartford Financial Management Inc. raised its position in shares of 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 worth $33,000 after buying an additional 183 shares in the last quarter. Blue Trust Inc. raised its position in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after buying an additional 527 shares in the last quarter. Addison Advisors LLC raised its position in shares of Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after buying an additional 754 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Bank of New York Mellon in the third quarter worth $38,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now directly owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the sale, the insider now directly owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock valued at $6,475,216 over the last ninety days. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Stock Up 0.2 %

Shares of NYSE:BK opened at $59.09 on Wednesday. The stock’s 50-day moving average price is $56.83 and its 200-day moving average price is $53.76. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $59.70. The stock has a market capitalization of $44.19 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.21 and a beta of 1.11. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90.

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 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 firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the firm earned $1.13 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.84%. Bank of New York Mellon’s payout ratio is presently 40.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. 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. Jefferies Financial Group increased their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Bank of America increased their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley raised their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Evercore ISI raised their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.