Forte Capital LLC ADV Has $2.33 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Forte Capital LLC ADV lowered its position in The Bank of New York Mellon Co. (NYSE:BK) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,677 shares of the bank’s stock after selling 1,337 shares during the quarter. Forte Capital LLC ADV’s holdings in Bank of New York Mellon were worth $2,325,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BK. Hartford Financial Management Inc. increased its holdings in shares of Bank of New York Mellon by 41.4% during the fourth 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. Addison Advisors LLC grew its holdings in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after purchasing an additional 754 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Bank of New York Mellon in the third quarter valued at $38,000. Blue Trust Inc. raised its holdings in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after buying an additional 527 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Bank of New York Mellon during the 3rd quarter worth about $49,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BK shares. Morgan Stanley raised 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. 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 report on Thursday, April 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. UBS Group lifted their price objective on 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. Finally, Evercore ISI upped their price target 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the transaction, the vice president now directly owns 123,490 shares of the company’s stock, valued at $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the business’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 directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,568 shares of company stock valued at $5,459,897. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 0.7 %

BK traded up $0.40 during trading on Friday, reaching $57.00. The company had a trading volume of 2,214,001 shares, compared to its average volume of 3,813,908. The business’s fifty day moving average price is $56.16 and its 200 day moving average price is $52.30. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. 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 market cap of $42.91 billion, a P/E ratio of 13.90, a PEG ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last announced 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 during 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 prior year, the business earned $1.13 EPS. Equities analysts anticipate that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business 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. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.95%. Bank of New York Mellon’s payout ratio is presently 40.98%.

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.