The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by IFG Advisory LLC

IFG Advisory LLC boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 62.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 92,355 shares of the bank’s stock after acquiring an additional 35,582 shares during the quarter. IFG Advisory LLC’s holdings in Bank of New York Mellon were worth $4,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BK. Brown Brothers Harriman & Co. boosted its position in Bank of New York Mellon by 97.1% during the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Bank of New York Mellon in the first quarter worth $36,000. Addison Advisors LLC raised its holdings in shares of Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after acquiring an additional 754 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Bank of New York Mellon in the third quarter worth $38,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth $45,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $56.93 on Thursday. The firm has a market capitalization of $42.86 billion, a PE ratio of 14.34, a P/E/G ratio of 1.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average of $55.38 and a two-hundred day moving average of $49.75. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $57.45.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, January 12th. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.30 billion. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 earnings per share. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.26 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Monday, January 22nd were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, January 19th. Bank of New York Mellon’s payout ratio is 42.32%.

Insider Transactions at Bank of New York Mellon

In other news, VP Hanneke Smits sold 15,425 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total value of $850,843.00. Following the completion of the sale, the vice president now owns 119,656 shares of the company’s stock, valued at $6,600,224.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Catherine Keating sold 4,498 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Hanneke Smits sold 15,425 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $55.16, for a total value of $850,843.00. Following the transaction, the vice president now directly owns 119,656 shares in the company, valued at approximately $6,600,224.96. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

BK has been the subject of a number of analyst reports. Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. UBS Group boosted their price target on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. raised Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price target for the company in a report on Monday, December 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 research note on Wednesday. Finally, Citigroup upped 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 note on Wednesday, February 14th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $55.65.

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.