Handelsbanken Fonder AB Acquires 13,511 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Handelsbanken Fonder AB grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 6.1% during the fourth quarter, Holdings Channel reports. The firm owned 235,254 shares of the bank’s stock after purchasing an additional 13,511 shares during the period. Handelsbanken Fonder AB’s holdings in Bank of New York Mellon were worth $12,245,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC grew its stake in Bank of New York Mellon by 22.1% in the 4th quarter. Signaturefd LLC now owns 13,328 shares of the bank’s stock valued at $694,000 after buying an additional 2,413 shares during the last quarter. Lindbrook Capital LLC grew its stake in Bank of New York Mellon by 65.2% in the 4th quarter. Lindbrook Capital LLC now owns 4,221 shares of the bank’s stock valued at $220,000 after buying an additional 1,666 shares during the last quarter. abrdn plc grew its stake in Bank of New York Mellon by 20.1% in the 4th quarter. abrdn plc now owns 1,272,715 shares of the bank’s stock valued at $66,245,000 after buying an additional 212,676 shares during the last quarter. Hunter Associates Investment Management LLC grew its stake in Bank of New York Mellon by 16.2% in the 4th quarter. Hunter Associates Investment Management LLC now owns 14,200 shares of the bank’s stock valued at $738,000 after buying an additional 1,980 shares during the last quarter. Finally, Stephenson & Company Inc. acquired a new stake in Bank of New York Mellon in the 4th quarter worth $210,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s 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 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 is available through the SEC website. In other news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders have sold a total of 98,568 shares of company stock worth $5,459,897 over the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BK shares. UBS Group raised their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Bank of America raised their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. 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. Jefferies Financial Group upped their target price on shares of 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. Finally, Morgan Stanley upped their target price on shares of 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. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Price Performance

NYSE:BK opened at $57.45 on Wednesday. The firm has a market cap of $43.25 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. 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 company’s 50-day moving average price is $55.86 and its two-hundred day moving average price is $51.58.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating 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 net margin of 9.48% and a return on equity of 11.80%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 earnings per share. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.42 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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