Diversified Trust Co Buys Shares of 44,724 The Bank of New York Mellon Co. (NYSE:BK)

Diversified Trust Co purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,724 shares of the bank’s stock, valued at approximately $2,577,000.

Several other hedge funds have also made changes to their positions in BK. Norges Bank acquired a new position in Bank of New York Mellon in the fourth quarter valued at $813,701,000. Vanguard Group Inc. increased its position in Bank of New York Mellon by 6.1% during the fourth quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after buying an additional 4,293,751 shares during the period. KBC Group NV lifted its stake in Bank of New York Mellon by 217.0% in the fourth quarter. KBC Group NV now owns 1,528,492 shares of the bank’s stock valued at $79,558,000 after buying an additional 1,046,298 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Bank of New York Mellon by 153.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after acquiring an additional 941,193 shares during the period. Finally, Putnam Investments LLC grew its position in shares of Bank of New York Mellon by 224.9% during the fourth quarter. Putnam Investments LLC now owns 1,001,056 shares of the bank’s stock worth $52,105,000 after acquiring an additional 692,910 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BK opened at $60.11 on Tuesday. The company has a market capitalization of $44.95 billion, a PE ratio of 14.66, a P/E/G ratio of 1.20 and a beta of 1.09. The Bank of New York Mellon Co. has a 52-week low of $39.66 and a 52-week high of $60.87. The company has a 50-day simple moving average of $58.45 and a 200-day simple moving average of $56.07. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the firm earned $1.13 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts predict 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Analyst Ratings Changes

Several research analysts have issued reports on BK shares. Jefferies Financial Group raised their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Bank of America raised their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods raised Bank of New York Mellon from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $70.00 in a report on Thursday, June 27th. Finally, Evercore ISI increased their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.15.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction dated 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 transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine Keating sold 54,070 shares of the firm’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 sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock worth $6,475,216 in the last three months. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon 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.