Insider Selling: The Bank of New York Mellon Co. (NYSE:BK) EVP Sells 40,000 Shares of Stock

The Bank of New York Mellon Co. (NYSE:BK) EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated 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 owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Bank of New York Mellon Trading Up 0.5 %

NYSE BK traded up $0.29 on Tuesday, hitting $57.45. 2,860,990 shares of the company were exchanged, compared to its average volume of 3,996,152. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. The company’s 50 day moving average price is $55.79 and its 200-day moving average price is $51.48. The firm has a market capitalization of $43.25 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 EPS. Analysts predict that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.92%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Hedge Funds Weigh In On Bank of New York Mellon

A number of large investors have recently made changes to their positions in BK. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $28,000. Able Wealth Management LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Bank of New York Mellon during the 1st quarter worth about $32,000. Hartford Financial Management Inc. increased its holdings 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 valued at $33,000 after acquiring an additional 183 shares during the last quarter. Finally, Addison Advisors LLC raised its stake in shares of Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after acquiring an additional 754 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BK shares. Jefferies Financial Group boosted their price objective 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. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Citigroup upped their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. UBS Group boosted their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, Bank of America increased their price target 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

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.