Williams Jones Wealth Management LLC. Has $484,000 Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Williams Jones Wealth Management LLC. cut its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 19.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,305 shares of the bank’s stock after selling 1,503 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Bank of New York Mellon were worth $484,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $1,150,462,000. FMR LLC raised its position in shares of Bank of New York Mellon by 19.3% in the fourth quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock valued at $1,772,590,000 after purchasing an additional 3,732,862 shares during the period. Northern Trust Corp raised its position in shares of Bank of New York Mellon by 19.1% in the fourth quarter. Northern Trust Corp now owns 9,533,615 shares of the bank’s stock valued at $732,468,000 after purchasing an additional 1,526,686 shares during the period. Raymond James Financial Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $90,955,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of 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 purchasing an additional 1,125,493 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 1.3%

Shares of Bank of New York Mellon stock opened at $88.94 on Thursday. The firm has a market capitalization of $63.63 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. 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 company’s fifty day moving average price is $81.61 and its two-hundred day moving average price is $81.63. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $90.63.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, topping 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 business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, 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 company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

Insider Transactions at Bank of New York Mellon

In related news, insider Kurtis R. Kurimsky sold 5,641 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.50, for a total transaction of $437,177.50. Following the transaction, the insider now owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00. Following the transaction, the executive vice president now owns 55,115 shares in the company, valued at approximately $4,355,738.45. This trade represents a 35.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Morgan Stanley dropped their target price on shares of 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. StockNews.com lowered shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Finally, Evercore ISI boosted their target price 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. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus 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.