The Bank of New York Mellon Co. (NYSE:BK) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 541,203 shares of the bank’s stock after buying an additional 4,550 shares during the period. Bank of New York Mellon comprises approximately 0.9% of First Horizon Advisors Inc.’s holdings, making the stock its 22nd biggest position. First Horizon Advisors Inc. owned 0.07% of Bank of New York Mellon worth $28,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Quent Capital LLC boosted its holdings in shares of Bank of New York Mellon by 3.8% in the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after buying an additional 182 shares during the period. Hartford Financial Management Inc. raised its position 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 worth $33,000 after buying an additional 183 shares in the last quarter. Certuity LLC raised its position in shares of Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock worth $467,000 after buying an additional 205 shares in the last quarter. Choreo LLC raised its holdings in shares of Bank of New York Mellon by 1.8% in the 4th quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after purchasing an additional 208 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC raised its holdings in shares of Bank of New York Mellon by 0.8% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock worth $1,445,000 after purchasing an additional 221 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.4 %

Shares of BK traded up $0.22 during mid-day trading on Thursday, hitting $56.68. 1,445,526 shares of the company’s stock were exchanged, compared to its average volume of 3,903,795. The firm has a fifty day moving average of $56.11 and a two-hundred day moving average of $52.16. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. The stock has a market cap of $42.67 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.21 and a beta of 1.11. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the business posted $1.13 EPS. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.96%. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

Analyst Ratings Changes

BK has been the topic of a number of research reports. Bank of America boosted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. 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 report on Wednesday, March 27th. 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 report on Thursday, April 18th. Finally, 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 report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.17.

Insider Transactions at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were 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 directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 100,404 shares of the company’s stock, 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 in the last 90 days. 0.14% of the stock is owned by insiders.

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.