Sage Mountain Advisors LLC Makes New $242,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Sage Mountain Advisors LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, Holdings Channel reports. The institutional investor bought 4,641 shares of the bank’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. lifted its stake 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 purchasing an additional 183 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after acquiring an additional 527 shares during the last quarter. Addison Advisors LLC lifted its stake in shares of Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after acquiring an additional 754 shares during the last quarter. First Command Advisory Services Inc. bought a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $49,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

NYSE BK opened at $57.70 on Tuesday. The company has a market capitalization of $43.44 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.21 and a beta of 1.12. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. The stock has a fifty day simple moving average of $55.79 and a 200 day simple moving average of $51.48. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm 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 business posted $1.13 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts expect that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.91%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. 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 note on Wednesday, April 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. UBS Group increased their price target 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. Morgan Stanley increased their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Citigroup increased their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the 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 completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.