Gateway Investment Advisers LLC Grows Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Gateway Investment Advisers LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,589 shares of the bank’s stock after buying an additional 478 shares during the period. Gateway Investment Advisers LLC’s holdings in Bank of New York Mellon were worth $1,391,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vest Financial LLC purchased a new stake in Bank of New York Mellon during the 1st quarter worth $43,093,000. HF Advisory Group LLC increased its stake in Bank of New York Mellon by 3.0% during the 1st quarter. HF Advisory Group LLC now owns 9,826 shares of the bank’s stock worth $824,000 after buying an additional 283 shares during the period. Beacon Financial Group increased its stake in Bank of New York Mellon by 3.9% during the 1st quarter. Beacon Financial Group now owns 17,693 shares of the bank’s stock worth $1,484,000 after buying an additional 666 shares during the period. Benson Investment Management Company Inc. purchased a new stake in Bank of New York Mellon during the 1st quarter worth $5,259,000. Finally, Teamwork Financial Advisors LLC increased its position in shares of Bank of New York Mellon by 2.6% in the 1st quarter. Teamwork Financial Advisors LLC now owns 37,929 shares of the bank’s stock worth $3,181,000 after purchasing an additional 945 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BK. 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. Truist Financial downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating and boosted their target price for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Wall Street Zen downgraded shares of Bank of New York Mellon from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley boosted their target price on shares of Bank of New York Mellon from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.85.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, the vice president now directly owns 87,542 shares of the company’s stock, valued at $6,767,872.02. The trade was a 42.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. This represents a 35.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock valued at $7,869,795 in the last ninety days. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $90.33 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a fifty-two week low of $57.18 and a fifty-two week high of $90.63. The firm has a 50-day simple moving average of $82.87 and a 200 day simple moving average of $82.65. The company has a market cap of $64.63 billion, a PE ratio of 15.55, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last announced 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 during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 EPS. On average, sell-side analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s payout ratio is 30.62%.

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.