SageView Advisory Group LLC Takes $1.21 Million Position in The Bank of New York Mellon Co. (NYSE:BK)

SageView Advisory Group LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 21,547 shares of the bank’s stock, valued at approximately $1,208,000.

Several other institutional investors also recently added to or reduced their stakes in BK. Quent Capital LLC grew its holdings in shares of 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 buying an additional 182 shares during the last quarter. Hartford Financial Management Inc. grew its stake in shares of 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 last quarter. Certuity LLC increased its holdings in shares of Bank of New York Mellon by 2.3% in the fourth 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 raised its stake in shares of Bank of New York Mellon by 1.8% during the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after purchasing an additional 208 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in shares of Bank of New York Mellon by 3.0% during the fourth quarter. Manchester Capital Management LLC now owns 7,524 shares of the bank’s stock worth $392,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of 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. Citigroup upped their price objective 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. Jefferies Financial Group raised their target price 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. Bank of America lifted their price target 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. Finally, Morgan Stanley lifted 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 research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the transaction, the vice president now owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,928 shares of company stock valued at $6,475,216. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 1.3 %

Shares of BK stock traded up $0.76 during mid-day trading on Friday, reaching $59.09. The company’s stock had a trading volume of 2,098,327 shares, compared to its average volume of 2,819,826. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $44.19 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11. The company’s 50 day simple moving average is $57.08 and its 200-day simple moving average is $53.93. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $59.70.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the company 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. On average, research analysts predict that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed 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 of this dividend was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.84%. Bank of New York Mellon’s payout ratio is currently 40.98%.

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.