Choreo LLC Increases Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

Choreo LLC boosted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,903 shares of the bank’s stock after purchasing an additional 208 shares during the quarter. Choreo LLC’s holdings in Bank of New York Mellon were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BK. Massachusetts Financial Services Co. MA raised its stake in shares of Bank of New York Mellon by 142.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock worth $69,125,000 after acquiring an additional 951,730 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bank of New York Mellon by 153.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after acquiring an additional 941,193 shares in the last quarter. Barclays PLC raised its stake in shares of Bank of New York Mellon by 30.0% during the third quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock worth $160,020,000 after acquiring an additional 866,548 shares in the last quarter. Northern Trust Corp increased its stake in shares of Bank of New York Mellon by 8.2% in the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after buying an additional 715,421 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of Bank of New York Mellon by 1,191.2% in the third quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock worth $31,953,000 after buying an additional 691,172 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 98,568 shares of company stock valued at $5,459,897 in the last three months. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Down 0.1 %

Shares of Bank of New York Mellon stock opened at $56.46 on Thursday. The company’s fifty day simple moving average is $56.11 and its two-hundred day simple moving average is $52.16. The company has a market cap of $42.51 billion, a P/E ratio of 13.77, a PEG ratio of 1.23 and a beta of 1.12. The company has a current ratio of 0.71, a quick ratio of 0.72 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.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate 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 was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. Research analysts anticipate that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley lifted 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 note on Thursday, April 18th. Citigroup lifted their target price 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 lifted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reaffirmed 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. Finally, Jefferies Financial Group boosted their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon 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.