GAMMA Investing LLC Has $302,000 Holdings in The Bank of New York Mellon Co. (NYSE:BK)

GAMMA Investing LLC increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 20.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,247 shares of the bank’s stock after purchasing an additional 877 shares during the quarter. GAMMA Investing LLC’s holdings in Bank of New York Mellon were worth $302,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth about $28,000. Able Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $32,000. Hartford Financial Management Inc. grew its stake in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares in the last quarter. Blue Trust Inc. increased its holdings in Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after buying an additional 527 shares during the last quarter. Finally, Headinvest LLC bought a new stake in Bank of New York Mellon during the third quarter worth $63,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Bank of America raised their price objective on 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. 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 report on Thursday, April 18th. Evercore ISI raised their price target 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 upped their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The shares were 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 $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,928 shares of company stock valued at $6,475,216. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $58.68 on Thursday. 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 Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $60.87. The company’s 50 day moving average price is $57.88 and its two-hundred day moving average price is $55.52. The firm has a market cap of $43.88 billion, a PE ratio of 14.31, a PEG ratio of 1.20 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $1.13 EPS. Equities research analysts predict 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 company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s payout ratio is presently 40.98%.

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.