Van ECK Associates Corp Has $189.80 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Van ECK Associates Corp raised its position in The Bank of New York Mellon Co. (NYSE:BK) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,646,496 shares of the bank’s stock after purchasing an additional 104,558 shares during the quarter. Van ECK Associates Corp’s holdings in Bank of New York Mellon were worth $189,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Choreo LLC raised its position in shares of Bank of New York Mellon by 1.8% in the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock valued at $620,000 after purchasing an additional 208 shares during the period. Gilbert & Cook Inc. increased its position in Bank of New York Mellon by 4.7% during the fourth quarter. Gilbert & Cook Inc. now owns 9,361 shares of the bank’s stock worth $487,000 after acquiring an additional 419 shares during the period. Fiduciary Group LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $217,000. PGGM Investments increased its position in Bank of New York Mellon by 37.6% during the fourth quarter. PGGM Investments now owns 130,022 shares of the bank’s stock worth $6,768,000 after acquiring an additional 35,497 shares during the period. Finally, Unique Wealth Strategies LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $732,000. 85.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction on 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 sale, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,568 shares of company stock valued at $5,459,897. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 0.0 %

Shares of NYSE:BK traded up $0.02 during mid-day trading on Monday, hitting $57.34. 2,638,528 shares of the company traded hands, compared to its average volume of 3,937,528. The stock has a market cap of $43.17 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.23 and a beta of 1.12. 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 12-month low of $39.65 and a 12-month high of $58.28. The stock has a 50-day moving average price of $56.01 and a two-hundred day moving average price of $51.91.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.13 earnings per share. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.43 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 Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.93%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Analyst Ratings Changes

BK has been the topic of a number of research analyst reports. Evercore ISI raised 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 report on Thursday, April 4th. Morgan Stanley raised their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Citigroup raised their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, UBS Group raised their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Company 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.