Piedmont Investment Advisors Inc. lifted its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 1.6% during the first quarter, Holdings Channel reports. The fund owned 54,255 shares of the bank’s stock after purchasing an additional 847 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Bank of New York Mellon were worth $2,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Barings LLC increased its position in shares of Bank of New York Mellon by 53.1% during the first quarter. Barings LLC now owns 40,085 shares of the bank’s stock worth $2,022,000 after acquiring an additional 13,900 shares during the last quarter. Manchester Capital Management LLC boosted its stake in Bank of New York Mellon by 35.4% in the first quarter. Manchester Capital Management LLC now owns 12,115 shares of the bank’s stock valued at $611,000 after acquiring an additional 3,165 shares during the period. Concentric Wealth Management LLC boosted its stake in Bank of New York Mellon by 3.9% in the first quarter. Concentric Wealth Management LLC now owns 32,273 shares of the bank’s stock valued at $1,628,000 after acquiring an additional 1,205 shares during the period. Commerce Bank boosted its stake in Bank of New York Mellon by 14.2% in the first quarter. Commerce Bank now owns 40,381 shares of the bank’s stock valued at $2,037,000 after acquiring an additional 5,025 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Bank of New York Mellon by 0.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,285 shares of the bank’s stock valued at $3,040,000 after acquiring an additional 345 shares during the period. 84.26% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Edward P. Garden sold 171,960 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $52.28, for a total transaction of $8,990,068.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward P. Garden sold 1,336 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.00, for a total value of $69,472.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 825,900 shares of company stock valued at $41,761,281. Insiders own 1.71% of the company’s stock.

A number of brokerages have commented on BK. Buckingham Research decreased their target price on Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Zacks Investment Research downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Deutsche Bank lifted their target price on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, March 15th. ValuEngine downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada decreased their target price on Bank of New York Mellon to $52.00 and set a “positive” rating for the company in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.75.

Shares of NYSE BK opened at $45.16 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $43.24 billion, a PE ratio of 10.73, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. Bank of New York Mellon Corp has a 12-month low of $43.67 and a 12-month high of $58.22.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Wednesday, April 17th. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.02). The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $4.01 billion. Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, analysts predict that Bank of New York Mellon Corp will post 4.07 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Monday, April 29th were given a dividend of $0.28 per share. The ex-dividend date was Friday, April 26th. This represents a $1.12 annualized dividend and a dividend yield of 2.48%. Bank of New York Mellon’s dividend payout ratio is presently 26.60%.

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Bank of New York Mellon Company 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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