Keyvantage Wealth LLC Makes New $506,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Keyvantage Wealth LLC purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,589 shares of the bank’s stock, valued at approximately $506,000.

A number of other hedge funds have also recently made changes to their positions in BK. FMR LLC raised its holdings in Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after buying an additional 3,732,862 shares during the last quarter. Norges Bank purchased a new stake in Bank of New York Mellon in the fourth quarter worth $1,150,462,000. Arrowstreet Capital Limited Partnership boosted its holdings in Bank of New York Mellon by 17.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after acquiring an additional 1,125,493 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Bank of New York Mellon by 2.4% during the 4th quarter. Invesco Ltd. now owns 7,596,210 shares of the bank’s stock valued at $583,617,000 after purchasing an additional 175,704 shares in the last quarter. Finally, Amundi raised its stake in Bank of New York Mellon by 5.1% in the fourth quarter. Amundi now owns 7,363,015 shares of the bank’s stock worth $573,947,000 after buying an additional 359,942 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Activity at Bank of New York Mellon

In other news, VP Catherine Keating sold 65,473 shares of Bank of New York Mellon stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares in the company, valued at approximately $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Up 1.9 %

Shares of NYSE BK opened at $77.74 on Thursday. The stock has a market capitalization of $55.82 billion, a P/E ratio of 13.38, a PEG ratio of 0.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business’s 50 day moving average is $82.08 and its two-hundred day moving average is $80.39. The Bank of New York Mellon Co. has a 1-year low of $56.08 and a 1-year high of $90.34.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. As a group, research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon’s payout ratio is presently 30.62%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BK. Morgan Stanley dropped their price target on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Evercore ISI increased their price target on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an “in-line” rating in a research report on Tuesday, April 1st. Citigroup raised their target price on shares of Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, March 24th. Wolfe Research lowered shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. Finally, Truist Financial decreased their price objective on shares of Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.31.

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.