The Bank of New York Mellon Co. (NYSE:BK) Holdings Boosted by IFG Advisory LLC

IFG Advisory LLC grew its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 62.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,355 shares of the bank’s stock after acquiring an additional 35,582 shares during the period. IFG Advisory LLC’s holdings in Bank of New York Mellon were worth $4,807,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quilter Plc purchased a new position in shares of Bank of New York Mellon during the 1st quarter valued at $446,850,000. Brown Brothers Harriman & Co. boosted its holdings in Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Bank of New York Mellon in the first quarter worth $36,000. Addison Advisors LLC boosted its holdings in Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after purchasing an additional 754 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in Bank of New York Mellon in the third quarter worth $38,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BK. Citigroup upped their price objective on shares of 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. JPMorgan Chase & Co. upgraded shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price objective for the company in a report on Monday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday. UBS Group boosted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $52.00 to $62.00 in a research report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Hold” and an average target price of $55.65.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on 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 $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Hanneke Smits sold 15,425 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total value of $850,843.00. Following the completion of the transaction, the vice president now owns 119,656 shares of the company’s stock, valued at $6,600,224.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Up 0.6 %

Shares of NYSE BK opened at $56.93 on Thursday. The company’s 50 day simple moving average is $55.38 and its 200 day simple moving average is $49.75. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $57.45. The firm has a market capitalization of $42.86 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, January 12th. The bank reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.16. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.30 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. Bank of New York Mellon’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 earnings per share. On average, analysts predict that The Bank of New York Mellon Co. will post 5.26 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Monday, January 22nd were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 19th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.95%. Bank of New York Mellon’s payout ratio is 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.