Global Assets Advisory LLC Invests $1.07 Million in The Bank of New York Mellon Co. (NYSE:BK)

Global Assets Advisory LLC purchased a new position in The Bank of New York Mellon Co. (NYSE:BK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,512 shares of the bank’s stock, valued at approximately $1,067,000.

A number of other hedge funds have also recently made changes to their positions in BK. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth $28,000. Able Wealth Management LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $32,000. Hartford Financial Management Inc. raised its holdings in shares of Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after purchasing an additional 527 shares during the period. Finally, Headinvest LLC bought a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $63,000. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BK. Jefferies Financial Group upped 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. Bank of America lifted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Evercore ISI increased their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Morgan Stanley lifted their price objective 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Activity

In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock valued at $6,475,216 in the last ninety days. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $58.66 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. The company’s fifty day moving average price is $58.21 and its 200-day moving average price is $55.87. The Bank of New York Mellon Co. has a 1-year low of $39.66 and a 1-year high of $60.87. The firm has a market capitalization of $43.87 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last posted its quarterly 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 return on equity of 11.80% and a net margin of 9.48%. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Announces Dividend

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