Los Angeles Capital Management LLC Boosts Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Los Angeles Capital Management LLC boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 190.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,222 shares of the bank’s stock after buying an additional 23,080 shares during the period. Los Angeles Capital Management LLC’s holdings in Bank of New York Mellon were worth $2,029,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC boosted its position in shares of Bank of New York Mellon by 3.8% during the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock worth $262,000 after purchasing an additional 182 shares in the last quarter. Hartford Financial Management Inc. boosted its position in shares of Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after purchasing an additional 183 shares in the last quarter. Vivaldi Capital Management LP boosted its position in shares of Bank of New York Mellon by 3.3% during the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock worth $324,000 after purchasing an additional 192 shares in the last quarter. Certuity LLC boosted its position in shares of Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock worth $467,000 after purchasing an additional 205 shares in the last quarter. Finally, Choreo LLC boosted its position in shares of Bank of New York Mellon by 1.8% during the 4th quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after purchasing an additional 208 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BK shares. Morgan Stanley boosted their target price on shares of 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. 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 note on Thursday, April 4th. Jefferies Financial Group lifted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, 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 note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Activity

In other news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Kurtis R. Kurimsky sold 6,215 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total transaction of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares in the company, valued at approximately $1,410,363.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the business’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 owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders sold a total of 115,928 shares of company stock valued at $6,475,216 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Down 0.0 %

Shares of BK stock opened at $58.82 on Friday. The firm has a 50-day moving average price of $58.03 and a 200 day moving average price of $55.67. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $60.87. The company has a market capitalization of $43.99 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.18 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share 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 the consensus estimate of $4.39 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Research analysts forecast that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

About Bank of New York Mellon

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.