17,162 Shares in The Bank of New York Mellon Co. (NYSE:BK) Acquired by Mirova

Mirova purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 17,162 shares of the bank’s stock, valued at approximately $1,319,000.

A number of other institutional investors also recently modified their holdings of the company. Graney & King LLC acquired a new position in Bank of New York Mellon in the 4th quarter valued at $35,000. Centricity Wealth Management LLC bought a new stake in Bank of New York Mellon during the fourth quarter valued at about $39,000. TCTC Holdings LLC grew its position in shares of Bank of New York Mellon by 257.5% in the fourth quarter. TCTC Holdings LLC now owns 597 shares of the bank’s stock valued at $46,000 after purchasing an additional 430 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $49,000. Finally, Friedenthal Financial acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $56,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BK shares. StockNews.com lowered Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Citigroup raised their price target on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, March 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.31.

Bank of New York Mellon Trading Up 0.7 %

Shares of BK opened at $76.25 on Friday. The stock’s fifty day simple moving average is $82.72 and its 200-day simple moving average is $80.36. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $54.75 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a 12-month low of $56.08 and a 12-month high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the company posted $1.29 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. As a group, research analysts predict that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.47%. Bank of New York Mellon’s payout ratio is presently 30.62%.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now owns 21,679 shares of the company’s stock, valued at $1,680,122.50. This represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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.