The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by MV Capital Management Inc.

MV Capital Management Inc. raised its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 15.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,818 shares of the bank’s stock after acquiring an additional 238 shares during the quarter. MV Capital Management Inc.’s holdings in Bank of New York Mellon were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in Bank of New York Mellon during the fourth quarter valued at approximately $28,000. Able Wealth Management LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Bank of New York Mellon in the 1st quarter worth $32,000. Hartford Financial Management Inc. grew its holdings in shares of Bank of New York Mellon by 41.4% in the 4th 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. Finally, Blue Trust Inc. raised its position in shares of 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 purchasing an additional 527 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the transaction, the insider now owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock valued at $6,475,216 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of recent analyst reports. Bank of America increased their price target on 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. Morgan Stanley lifted their target price on shares of 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. Jefferies Financial Group upped their price target on shares of 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Keefe, Bruyette & Woods raised shares of 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 research note on Thursday, June 27th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.15.

Bank of New York Mellon Trading Up 0.6 %

Bank of New York Mellon stock opened at $60.50 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $60.87. The company’s fifty day simple moving average is $58.51 and its 200-day simple moving average is $56.13. The stock has a market cap of $45.24 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.20 and a beta of 1.09.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. As a group, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is 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.