Mraz Amerine & Associates Inc. Has $1.27 Million Stake in The Bank of New York Mellon Co. (NYSE:BK)

Mraz Amerine & Associates Inc. decreased its position in The Bank of New York Mellon Co. (NYSE:BK) by 18.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 24,402 shares of the bank’s stock after selling 5,665 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Bank of New York Mellon were worth $1,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BK. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $503,489,000. Moneta Group Investment Advisors LLC increased its position in shares of Bank of New York Mellon by 74,433.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock valued at $278,343,000 after acquiring an additional 6,106,537 shares during the last quarter. Barclays PLC increased its position in shares of Bank of New York Mellon by 126.2% in the second quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock valued at $128,462,000 after acquiring an additional 1,609,730 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Bank of New York Mellon in the first quarter valued at about $66,916,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Bank of New York Mellon by 142.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after acquiring an additional 951,730 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of a number of recent research reports. Evercore ISI lifted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $52.00 to $62.00 in a report on Tuesday, January 30th. Citigroup lifted their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. UBS Group lifted their price target on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, Bank of America lifted their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of “Hold” and a consensus price target of $58.17.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded up $0.47 during trading on Wednesday, reaching $54.47. 4,513,897 shares of the stock were exchanged, compared to its average volume of 4,027,140. The stock has a 50-day moving average price of $55.75 and a 200-day moving average price of $51.08. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The firm has a market cap of $41.01 billion, a PE ratio of 13.72, a PEG ratio of 1.18 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the prior year, the company earned $1.13 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts expect that The Bank of New York Mellon Co. will post 5.33 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is presently 42.32%.

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.