Arnhold LLC Invests $208,000 in The Bank of New York Mellon Co. (NYSE:BK)

Arnhold LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, HoldingsChannel reports. The firm purchased 4,000 shares of the bank’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Hartford Financial Management Inc. grew its position in Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after buying an additional 183 shares during the period. Blue Trust Inc. grew its position in Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after buying an additional 527 shares during the period. Addison Advisors LLC grew its position in Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after buying an additional 754 shares during the period. First Command Advisory Services Inc. acquired a new position in Bank of New York Mellon during the third quarter worth about $38,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Bank of New York Mellon during the third quarter worth about $49,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the transaction, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $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 valued at $5,459,897 over the last quarter. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Down 1.5 %

Shares of BK traded down $0.84 on Tuesday, hitting $56.49. 3,340,895 shares of the stock traded hands, compared to its average volume of 3,930,343. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $42.53 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.23 and a beta of 1.12. The stock’s 50 day moving average is $56.08 and its two-hundred day moving average is $52.13. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.13 earnings per share. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Jefferies Financial Group upped their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Bank of America increased their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley increased their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, UBS Group increased their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.17.

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.