Elo Mutual Pension Insurance Co Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Elo Mutual Pension Insurance Co boosted its holdings in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,993 shares of the bank’s stock after purchasing an additional 2,812 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Bank of New York Mellon were worth $3,539,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Artisan Partners Limited Partnership raised its stake in Bank of New York Mellon by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock valued at $1,030,254,000 after purchasing an additional 144,162 shares in the last quarter. Norges Bank bought a new position in Bank of New York Mellon during the fourth quarter valued at $813,701,000. Northern Trust Corp increased its position in Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after acquiring an additional 715,421 shares during the last quarter. LSV Asset Management increased its position in Bank of New York Mellon by 1.0% during the fourth quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock valued at $383,723,000 after acquiring an additional 72,880 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Bank of New York Mellon by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,758,152 shares of the bank’s stock valued at $351,775,000 after acquiring an additional 223,867 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $4,299,848. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,928 shares of company stock worth $6,475,216. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America boosted their price objective 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. Evercore ISI upped their price target 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. Citigroup upped their price target 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. Jefferies Financial Group upped their price target 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, Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Read Our Latest Stock Analysis on BK

Bank of New York Mellon Stock Performance

BK stock opened at $60.76 on Tuesday. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.24 and a beta of 1.08. The firm has a 50-day simple moving average of $57.66 and a two-hundred day simple moving average of $55.05. The Bank of New York Mellon Co. has a one year low of $39.66 and a one year high of $60.87. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $1.13 EPS. On average, equities analysts forecast that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued a $0.42 dividend. The ex-dividend date was Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.76%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Bank of New York Mellon Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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