Yacktman Asset Management LP Reduces Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Yacktman Asset Management LP lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,778,855 shares of the bank’s stock after selling 14,025 shares during the period. Bank of New York Mellon accounts for approximately 1.8% of Yacktman Asset Management LP’s portfolio, making the stock its 21st biggest holding. Yacktman Asset Management LP owned approximately 0.49% of Bank of New York Mellon worth $196,689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. boosted its position in Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Bank of New York Mellon by 603.2% during the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after purchasing an additional 754 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Bank of New York Mellon in the third quarter valued at approximately $38,000. Blue Trust Inc. lifted its position in 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 buying an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Bank of New York Mellon during the third quarter worth $49,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on BK shares. Citigroup lifted their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. 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. Bank of America lifted their price target 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. Evercore ISI increased their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Finally, Morgan Stanley raised their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon 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 $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the business’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 transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,568 shares of company stock valued at $5,459,897. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Up 0.5 %

Shares of BK traded up $0.29 during mid-day trading on Friday, hitting $57.47. 1,242,614 shares of the company’s stock were exchanged, compared to its average volume of 3,942,760. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The company has a market cap of $43.27 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.25 and a beta of 1.12. The stock’s 50-day moving average is $55.97 and its 200-day moving average is $51.67. 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.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.13 EPS. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is presently 40.98%.

About Bank of New York Mellon

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.