Guardian Investment Management Takes Position in The Bank of New York Mellon Co. (NYSE:BK)

Guardian Investment Management purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,650 shares of the bank’s stock, valued at approximately $294,000.

Several other institutional investors have also recently made changes to their positions in the company. HF Advisory Group LLC increased its stake in shares of Bank of New York Mellon by 33.0% during the fourth quarter. HF Advisory Group LLC now owns 6,663 shares of the bank’s stock valued at $347,000 after buying an additional 1,655 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Bank of New York Mellon by 95.1% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,539 shares of the bank’s stock valued at $80,000 after buying an additional 750 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Bank of New York Mellon by 10.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 75,900 shares of the bank’s stock valued at $3,950,000 after buying an additional 6,960 shares during the period. Scissortail Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at $560,000. Finally, Tyche Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at $428,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 1.2 %

Shares of BK stock traded up $0.67 during trading hours on Thursday, reaching $55.13. 1,944,348 shares of the company’s stock were exchanged, compared to its average volume of 3,998,468. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The stock has a market cap of $41.51 billion, a PE ratio of 13.49, a PEG ratio of 1.15 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 stock’s fifty day moving average price is $55.73 and its two-hundred day moving average price is $51.10.

Bank of New York Mellon (NYSE:BK) last issued its quarterly 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. 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 analyst estimates of $4.39 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Research analysts predict that The Bank of New York Mellon Co. will post 5.35 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

Insider Buying and Selling

In related news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the completion of the sale, the vice president now owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BK. UBS Group raised their price target 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. Evercore ISI lifted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Royal Bank of Canada reiterated 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. Morgan Stanley upgraded Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $52.00 to $62.00 in a research note on Tuesday, January 30th. Finally, 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. Six equities 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 “Hold” and an average price target of $59.15.

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.