KCS Wealth Advisory grew its stake in shares of Bank of New York Mellon Corp (NYSE:BK) by 12.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,975 shares of the bank’s stock after buying an additional 1,774 shares during the quarter. KCS Wealth Advisory’s holdings in Bank of New York Mellon were worth $806,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Bank of New York Mellon by 1.5% during the fourth quarter. BlackRock Inc. now owns 54,968,976 shares of the bank’s stock valued at $2,587,391,000 after purchasing an additional 805,925 shares during the period. FMR LLC increased its position in shares of Bank of New York Mellon by 36.4% during the fourth quarter. FMR LLC now owns 32,610,453 shares of the bank’s stock worth $1,534,974,000 after acquiring an additional 8,695,718 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Bank of New York Mellon by 2.0% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,843,432 shares of the bank’s stock worth $698,679,000 after acquiring an additional 292,800 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Bank of New York Mellon by 4.7% during the fourth quarter. Macquarie Group Ltd. now owns 14,529,096 shares of the bank’s stock worth $683,885,000 after acquiring an additional 647,347 shares in the last quarter. Finally, Harris Associates L P increased its position in shares of Bank of New York Mellon by 5.4% during the fourth quarter. Harris Associates L P now owns 10,826,019 shares of the bank’s stock worth $509,581,000 after acquiring an additional 552,515 shares in the last quarter. 87.88% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on BK. Vining Sparks reissued a “buy” rating and set a $55.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Deutsche Bank upped their price objective on shares of Bank of New York Mellon from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. ValuEngine raised shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Zacks Investment Research downgraded shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada reduced their target price on shares of Bank of New York Mellon to $52.00 and set a “positive” rating for the company in a research report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $53.75.
In related news, Director Edward P. Garden sold 1,336 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $52.00, for a total transaction of $69,472.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Trian Fund Management, L.P. sold 621,807 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $50.11, for a total transaction of $31,158,748.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 825,900 shares of company stock worth $41,761,281. Corporate insiders own 1.71% of the company’s stock.
NYSE BK traded down $0.05 on Wednesday, hitting $46.16. The stock had a trading volume of 3,232,000 shares, compared to its average volume of 4,809,610. Bank of New York Mellon Corp has a 52-week low of $43.67 and a 52-week high of $58.22. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market capitalization of $43.96 billion, a PE ratio of 10.96, a P/E/G ratio of 1.37 and a beta of 1.01.
Bank of New York Mellon (NYSE:BK) last posted its earnings results on Wednesday, April 17th. The bank reported $0.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.02). The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Bank of New York Mellon had a return on equity of 10.98% and a net margin of 20.69%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. On average, research analysts anticipate that Bank of New York Mellon Corp will post 4.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Monday, April 29th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.43%. The ex-dividend date was Friday, April 26th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.60%.
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Bank of New York Mellon Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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