Clifford Swan Investment Counsel LLC Has $7.39 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Clifford Swan Investment Counsel LLC lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,919 shares of the bank’s stock after selling 7,547 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Bank of New York Mellon were worth $7,387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 valued at $33,000 after purchasing an additional 183 shares during the period. Blue Trust Inc. boosted its holdings in shares of Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares during the period. Addison Advisors LLC increased its stake in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after purchasing an additional 754 shares during the period. First Command Advisory Services Inc. bought a new stake in Bank of New York Mellon in the 3rd quarter valued at $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Bank of New York Mellon in the 3rd quarter valued at $49,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.7 %

NYSE:BK traded up $0.40 during mid-day trading on Friday, hitting $57.00. 2,214,001 shares of the company’s stock were exchanged, compared to its average volume of 3,813,908. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The company has a 50 day simple moving average of $56.16 and a 200-day simple moving average of $52.42. The firm has a market capitalization of $42.91 billion, a P/E ratio of 13.90, a PEG ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data 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 business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the business posted $1.13 earnings per share. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts expect that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BK. Citigroup raised their price target on shares of 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. Evercore ISI increased their price objective 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. 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 research report on Wednesday, April 17th. UBS Group boosted their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley boosted their price target on 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. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of the company’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 transaction of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred 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 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 three months, insiders have sold 98,568 shares of company stock valued at $5,459,897. 0.14% of the stock is currently owned by company insiders.

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.