Syon Capital LLC Takes $233,000 Position in The Bank of New York Mellon Co. (NYSE:BK)

Syon Capital LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,481 shares of the bank’s stock, valued at approximately $233,000.

A number of other hedge funds have also recently modified their holdings of BK. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Bank of New York Mellon during the 3rd quarter valued at $1,766,000. Envestnet Asset Management Inc. raised its position in shares of Bank of New York Mellon by 47.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,569,319 shares of the bank’s stock worth $66,931,000 after purchasing an additional 506,752 shares during the last quarter. Invesco Ltd. raised its position in shares of Bank of New York Mellon by 10.0% in the 3rd quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock worth $246,182,000 after purchasing an additional 524,912 shares during the last quarter. CI Investments Inc. raised its position in shares of Bank of New York Mellon by 2.6% in the 3rd quarter. CI Investments Inc. now owns 19,192 shares of the bank’s stock worth $819,000 after purchasing an additional 495 shares during the last quarter. Finally, Rathbones Group PLC raised its position in shares of Bank of New York Mellon by 577.4% in the 3rd quarter. Rathbones Group PLC now owns 109,633 shares of the bank’s stock worth $4,676,000 after purchasing an additional 93,448 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the business’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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the business’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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the transaction, the vice president now owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,928 shares of company stock worth $6,475,216. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Price Performance

NYSE BK opened at $58.68 on Wednesday. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $60.87. The firm has a market capitalization of $43.88 billion, a P/E ratio of 14.31, a PEG ratio of 1.19 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $57.82 and a 200-day moving average price of $55.50.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BK shares. Evercore ISI lifted their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Bank of America lifted their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed 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. Morgan Stanley boosted their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, Jefferies Financial Group boosted their target price on 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. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.