Quantessence Capital LLC Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Quantessence Capital LLC acquired a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,452 shares of the bank’s stock, valued at approximately $496,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. boosted its stake in shares of Bank of New York Mellon by 12.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank’s stock valued at $90,000 after purchasing an additional 131 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank’s stock worth $2,653,000 after acquiring an additional 133 shares in the last quarter. Grove Bank & Trust grew its stake in shares of Bank of New York Mellon by 21.0% in the fourth quarter. Grove Bank & Trust now owns 779 shares of the bank’s stock worth $60,000 after acquiring an additional 135 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Bank of New York Mellon by 1.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 9,041 shares of the bank’s stock valued at $695,000 after acquiring an additional 139 shares in the last quarter. Finally, Stratos Investment Management LLC boosted its holdings in Bank of New York Mellon by 2.9% in the fourth quarter. Stratos Investment Management LLC now owns 5,109 shares of the bank’s stock valued at $393,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $76.25 on Wednesday. The stock has a market cap of $54.75 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.97 and a beta of 1.03. The Bank of New York Mellon Co. has a twelve month low of $56.08 and a twelve month high of $90.34. The stock has a 50 day moving average of $82.28 and a two-hundred day moving average of $80.41. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. Bank of New York Mellon’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.47%. Bank of New York Mellon’s payout ratio is 30.62%.

Insider Activity

In related news, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,641 shares of Bank of New York Mellon stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

BK has been the topic of several recent research reports. UBS Group upped their price target on Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. StockNews.com cut shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Truist Financial lowered their price target on shares of Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating for the company in a report on Monday, April 14th. Morgan Stanley decreased their price objective on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, March 24th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.31.

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.