Skopos Labs Inc. Purchases Shares of 3,907 The Bank of New York Mellon Co. (NYSE:BK)

Skopos Labs Inc. bought a new position in The Bank of New York Mellon Co. (NYSE:BKFree Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,907 shares of the bank’s stock, valued at approximately $203,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BK. ProVise Management Group LLC boosted its holdings in Bank of New York Mellon by 2.3% during the 4th quarter. ProVise Management Group LLC now owns 96,899 shares of the bank’s stock valued at $5,044,000 after acquiring an additional 2,157 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in Bank of New York Mellon by 18.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 45,047 shares of the bank’s stock valued at $2,374,000 after acquiring an additional 7,096 shares during the period. TCW Group Inc. boosted its holdings in Bank of New York Mellon by 28.6% during the 4th quarter. TCW Group Inc. now owns 461,103 shares of the bank’s stock valued at $24,002,000 after acquiring an additional 102,513 shares during the period. SageView Advisory Group LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at $1,208,000. Finally, AXS Investments LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at $1,346,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.3 %

Shares of BK traded up $0.76 during trading hours on Friday, hitting $59.09. The company had a trading volume of 2,098,327 shares, compared to its average volume of 2,819,826. The company has a market capitalization of $44.19 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.21 and a beta of 1.11. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $59.70. The company’s fifty day moving average price is $57.08 and its two-hundred day moving average price is $53.99.

Bank of New York Mellon (NYSE:BKGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the previous year, the company posted $1.13 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.84%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BK shares. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Evercore ISI lifted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Morgan Stanley lifted their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Citigroup lifted their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group lifted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Get Our Latest Analysis on BK

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock valued at $6,475,216 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Profile

(Free Report)

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.

See Also

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

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