Merit Financial Group LLC Makes New $219,000 Investment in The Bank of New York Mellon Co. (NYSE:BK)

Merit Financial Group LLC acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,202 shares of the bank’s stock, valued at approximately $219,000.

Other hedge funds also recently modified their holdings of the company. Advisor Partners II LLC grew its holdings in Bank of New York Mellon by 5.0% in the 3rd quarter. Advisor Partners II LLC now owns 29,559 shares of the bank’s stock valued at $1,261,000 after buying an additional 1,412 shares in the last quarter. TD Asset Management Inc increased its position in Bank of New York Mellon by 0.5% during the third quarter. TD Asset Management Inc now owns 251,208 shares of the bank’s stock worth $10,714,000 after acquiring an additional 1,145 shares during the period. TIAA Trust National Association acquired a new stake in Bank of New York Mellon in the 3rd quarter worth about $1,137,000. ING Groep NV bought a new stake in Bank of New York Mellon in the 3rd quarter valued at about $312,000. Finally, State of Michigan Retirement System grew its position in shares of Bank of New York Mellon by 5.7% during the 3rd quarter. State of Michigan Retirement System now owns 233,255 shares of the bank’s stock worth $9,948,000 after purchasing an additional 12,500 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the transaction, the insider now directly owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction on 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 $4,299,848. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 6,215 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the completion of the sale, the insider now owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock worth $6,475,216 in the last 90 days. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

BK has been the subject of a number of analyst reports. Evercore ISI lifted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Jefferies Financial Group upped their target price on 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 restated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Morgan Stanley upped their price objective 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, Bank of America raised their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Stock Up 1.5 %

Shares of NYSE BK opened at $58.35 on Friday. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 1.23 and a beta of 1.11. 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 $58.52. The stock has a 50-day moving average price of $56.28 and a two-hundred day moving average price of $52.68.

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

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is 40.98%.

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.