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

Simplicity Solutions LLC grew its position in The Bank of New York Mellon Co. (NYSE:BK) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,850 shares of the bank’s stock after purchasing an additional 751 shares during the period. Simplicity Solutions LLC’s holdings in Bank of New York Mellon were worth $721,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BK. Norges Bank purchased a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $503,489,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Bank of New York Mellon by 74,433.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,114,741 shares of the bank’s stock worth $278,343,000 after acquiring an additional 6,106,537 shares during the last quarter. Barclays PLC lifted its holdings in shares of Bank of New York Mellon by 126.2% in the 2nd quarter. Barclays PLC now owns 2,885,446 shares of the bank’s stock worth $128,462,000 after acquiring an additional 1,609,730 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Bank of New York Mellon in the 1st quarter worth approximately $66,916,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Bank of New York Mellon by 142.3% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BK opened at $54.47 on Thursday. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. The firm’s fifty day simple moving average is $55.73 and its 200-day simple moving average is $51.10. The firm has a market capitalization of $41.01 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.18 and a beta of 1.12. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the business earned $1.13 EPS. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that The Bank of New York Mellon Co. will post 5.33 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be issued a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.08%. Bank of New York Mellon’s payout ratio is 42.32%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BK shares. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Bank of America upped their price objective 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. UBS Group increased 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 report on Tuesday, January 9th. Finally, Citigroup increased 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 report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.17.

Insider Activity

In other 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 sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

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.