Corient Private Wealth LLC Has $16.25 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Corient Private Wealth LLC lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 312,188 shares of the bank’s stock after acquiring an additional 20,917 shares during the period. Corient Private Wealth LLC’s holdings in Bank of New York Mellon were worth $16,249,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Quent Capital LLC boosted its position in Bank of New York Mellon by 3.8% during the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock worth $262,000 after purchasing an additional 182 shares during the period. Hartford Financial Management Inc. raised 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 worth $33,000 after buying an additional 183 shares during the last quarter. Certuity LLC grew its stake in shares of Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after purchasing an additional 205 shares during the period. Choreo LLC lifted its holdings in Bank of New York Mellon by 1.8% in the 4th quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after purchasing an additional 208 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of Bank of New York Mellon by 3.0% during the 4th quarter. Manchester Capital Management LLC now owns 7,524 shares of the bank’s stock worth $392,000 after buying an additional 216 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insiders Place Their Bets

In related news, 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 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 approximately $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were 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 in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the transaction, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock valued at $6,475,216 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the subject of a number of research reports. Morgan Stanley upped 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 increased their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Bank of America raised their price target on 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. Evercore ISI raised their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Trading Up 1.3 %

NYSE:BK traded up $0.76 during trading hours on Friday, hitting $59.09. 2,098,327 shares of the company were exchanged, compared to its average volume of 2,819,826. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $57.08 and a 200 day simple moving average of $53.93. The stock has a market capitalization of $44.19 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $59.70.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 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 analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 EPS. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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

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.