Clarius Group LLC Reduces Stake in The Bank of New York Mellon Co. (NYSE:BK)

Clarius Group LLC reduced its position in The Bank of New York Mellon Co. (NYSE:BK) by 6.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,511 shares of the bank’s stock after selling 515 shares during the period. Clarius Group LLC’s holdings in Bank of New York Mellon were worth $391,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Bank of New York Mellon by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 15,302,537 shares of the bank’s stock valued at $693,747,000 after purchasing an additional 227,602 shares in the last quarter. Norges Bank purchased a new position in Bank of New York Mellon in the 4th quarter valued at approximately $503,489,000. Northern Trust Corp increased its stake in Bank of New York Mellon by 8.2% in the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after purchasing an additional 715,421 shares in the last quarter. Victory Capital Management Inc. increased its stake in Bank of New York Mellon by 1.5% in the 3rd quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock valued at $373,505,000 after purchasing an additional 129,929 shares in the last quarter. Finally, Morgan Stanley increased its stake in Bank of New York Mellon by 13.2% in the 4th quarter. Morgan Stanley now owns 7,863,929 shares of the bank’s stock valued at $357,966,000 after purchasing an additional 916,664 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

BK stock opened at $55.05 on Friday. The Bank of New York Mellon Co. has a 52-week low of $39.65 and a 52-week high of $58.28. The stock’s fifty day simple moving average is $55.77 and its 200-day simple moving average is $50.85. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $41.45 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.19 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Friday, January 12th. The bank reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.16. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the firm earned $1.30 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Equities research analysts expect that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. JPMorgan Chase & Co. upgraded Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 target price on the stock in a report on Monday, December 18th. UBS Group increased their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Evercore ISI increased 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 report on Thursday, April 4th. Finally, Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.72.

Insider Transactions at Bank of New York Mellon

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

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.