The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,475 shares of the bank’s stock after acquiring an additional 632 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Bank of New York Mellon were worth $1,846,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Hartford Financial Management Inc. raised its stake in shares of Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares during the period. Addison Advisors LLC raised its stake in shares of Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after acquiring an additional 754 shares during the period. First Command Advisory Services Inc. purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $38,000. Blue Trust Inc. raised its stake in shares of Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after acquiring an additional 527 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BK traded up $0.14 during midday trading on Friday, hitting $57.32. The company’s stock had a trading volume of 2,058,025 shares, compared to its average volume of 3,589,079. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28. The firm’s fifty day moving average price is $56.01 and its 200-day moving average price is $51.77. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The firm has a market cap of $43.15 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.23 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same period in the previous year, the business posted $1.13 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.93%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders have sold a total of 98,568 shares of company stock worth $5,459,897 in the last ninety days. 0.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Bank of America raised their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Jefferies Financial Group raised their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Evercore ISI raised their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Bank of New York Mellon 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.