The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Donald L. Hagan LLC

Donald L. Hagan LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,905 shares of the bank’s stock after purchasing an additional 494 shares during the period. Bank of New York Mellon accounts for about 0.8% of Donald L. Hagan LLC’s holdings, making the stock its 25th biggest holding. Donald L. Hagan LLC’s holdings in Bank of New York Mellon were worth $1,586,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its position in shares of Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock valued at $60,426,000 after acquiring an additional 82,671 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Bank of New York Mellon by 6.5% during the fourth quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock valued at $21,971,000 after acquiring an additional 17,457 shares during the last quarter. Benson Investment Management Company Inc. acquired a new stake in shares of Bank of New York Mellon during the first quarter valued at about $5,259,000. NEOS Investment Management LLC grew its holdings in shares of Bank of New York Mellon by 31.6% in the fourth quarter. NEOS Investment Management LLC now owns 46,647 shares of the bank’s stock valued at $3,584,000 after purchasing an additional 11,200 shares in the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Bank of New York Mellon by 2.0% in the fourth quarter. State of Tennessee Department of Treasury now owns 324,440 shares of the bank’s stock valued at $24,927,000 after purchasing an additional 6,307 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $89.69 on Friday. The stock has a market cap of $64.17 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.97 and a beta of 1.08. The Bank of New York Mellon Co. has a 52 week low of $57.18 and a 52 week high of $90.63. The company’s 50-day moving average price is $83.83 and its 200 day moving average price is $82.87. 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 earnings per share (EPS) 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 company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a dividend of $0.47 per share. The ex-dividend date was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.10%. Bank of New York Mellon’s payout ratio is 30.62%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup lifted their price target 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. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Evercore ISI boosted their price objective 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 price objective for the stock from $87.00 to $97.00 in a research report on Wednesday, May 28th. Finally, Morgan Stanley upped their price objective 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $91.85.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the 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 completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now 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 a total of 101,114 shares of company stock worth $7,869,795 in the last ninety days. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Company 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.