Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 46.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,250 shares of the bank’s stock after purchasing an additional 398 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Bank of New York Mellon were worth $59,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its position in shares of Bank of New York Mellon by 123.2% in the 2nd quarter. FMR LLC now owns 18,383,793 shares of the bank’s stock valued at $991,438,000 after acquiring an additional 10,147,809 shares during the period. Matthew Goff Investment Advisor LLC increased its position in shares of Bank of New York Mellon by 5,293.0% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 6,527,983 shares of the bank’s stock valued at $121,045,000 after acquiring an additional 6,406,938 shares during the period. Marathon Asset Management LLP acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $57,526,000. Gateway Investment Advisers LLC increased its position in shares of Bank of New York Mellon by 2,510.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 1,258,626 shares of the bank’s stock valued at $59,244,000 after acquiring an additional 1,210,405 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of Bank of New York Mellon by 8.6% in the 3rd quarter. Macquarie Group Ltd. now owns 13,881,749 shares of the bank’s stock valued at $707,831,000 after acquiring an additional 1,104,071 shares during the period. Hedge funds and other institutional investors own 84.45% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Monday, January 21st. Citigroup cut their target price on Bank of New York Mellon from $66.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, October 19th. Deutsche Bank cut their target price on Bank of New York Mellon from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Vining Sparks reissued a “buy” rating and issued a $55.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Finally, Keefe, Bruyette & Woods downgraded Bank of New York Mellon from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $55.00 to $49.00 in a research report on Friday, October 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $55.00.

In other news, Director Trian Fund Management, L.P. sold 2,107,000 shares of the stock in a transaction dated Monday, January 28th. The shares were sold at an average price of $53.48, for a total transaction of $112,682,360.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 1,400,000 shares of the stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $53.64, for a total transaction of $75,096,000.00. The disclosure for this sale can be found here. Corporate insiders own 1.76% of the company’s stock.

Shares of BK opened at $51.83 on Monday. The stock has a market cap of $51.25 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.47 and a beta of 1.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.69 and a current ratio of 0.70. Bank of New York Mellon Corp has a fifty-two week low of $43.67 and a fifty-two week high of $58.67.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, January 16th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.07. Bank of New York Mellon had a net margin of 22.19% and a return on equity of 11.53%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, analysts expect that Bank of New York Mellon Corp will post 4.27 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 8th. Stockholders of record on Monday, January 28th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, January 25th. Bank of New York Mellon’s payout ratio is currently 26.60%.

Bank of New York Mellon declared that its Board of Directors has authorized a share buyback plan on Monday, December 10th that authorizes the company to repurchase $830.00 million in outstanding shares. This repurchase authorization authorizes the bank to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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