Sage Mountain Advisors LLC Acquires Shares of 4,641 The Bank of New York Mellon Co. (NYSE:BK)

Sage Mountain Advisors LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,641 shares of the bank’s stock, valued at approximately $242,000.

Several other institutional investors have also recently bought and sold shares of BK. AE Wealth Management LLC raised its position in Bank of New York Mellon by 1.7% in the 3rd quarter. AE Wealth Management LLC now owns 49,069 shares of the bank’s stock valued at $2,093,000 after purchasing an additional 813 shares during the last quarter. HB Wealth Management LLC raised its position in Bank of New York Mellon by 58.5% in the 3rd quarter. HB Wealth Management LLC now owns 8,224 shares of the bank’s stock valued at $351,000 after purchasing an additional 3,036 shares during the last quarter. SG Americas Securities LLC raised its position in Bank of New York Mellon by 23.4% in the 3rd quarter. SG Americas Securities LLC now owns 61,911 shares of the bank’s stock valued at $2,641,000 after purchasing an additional 11,739 shares during the last quarter. State of Alaska Department of Revenue raised its position in Bank of New York Mellon by 2.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 174,755 shares of the bank’s stock valued at $7,452,000 after purchasing an additional 4,115 shares during the last quarter. Finally, Caprock Group LLC raised its position in Bank of New York Mellon by 8.9% in the 3rd quarter. Caprock Group LLC now owns 28,517 shares of the bank’s stock valued at $1,216,000 after purchasing an additional 2,338 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.9 %

Shares of Bank of New York Mellon stock opened at $57.70 on Tuesday. The company has a quick ratio of 0.72, 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 $39.65 and a 12 month high of $58.28. The business has a fifty day simple moving average of $55.79 and a 200 day simple moving average of $51.48. The stock has a market cap of $43.44 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced 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 business had revenue of $4.53 billion during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 earnings per share. Research analysts predict that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Dividend Announcement

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 issued a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.91%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Analyst Ratings Changes

Several equities research analysts have recently commented on BK shares. Royal Bank of Canada reissued 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. Citigroup lifted their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. UBS Group lifted their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley lifted their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Jefferies Financial Group lifted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.17.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction dated 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 transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.