Cambridge Investment Research Advisors Inc. Lowers Stock Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Cambridge Investment Research Advisors Inc. decreased its holdings in The Bank of New York Mellon Co. (NYSE:BKFree Report) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,570 shares of the bank’s stock after selling 7,130 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Bank of New York Mellon were worth $2,997,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $28,000. Hartford Financial Management Inc. raised its position in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after purchasing an additional 183 shares during the period. Blue Trust Inc. lifted its stake in shares of Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares during the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Bank of New York Mellon during the third quarter valued at $38,000. Finally, CVA Family Office LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $66,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Performance

Shares of BK stock opened at $59.61 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.71. The Bank of New York Mellon Co. has a 12 month low of $39.66 and a 12 month high of $59.70. The company’s fifty day moving average price is $57.34 and its two-hundred day moving average price is $54.45. The firm has a market capitalization of $44.58 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.20 and a beta of 1.11.

Bank of New York Mellon (NYSE:BKGet Free Report) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating 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 firm had revenue of $4.53 billion during 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 firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BK shares. Evercore ISI raised 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 report on Thursday, April 4th. Bank of America lifted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley lifted 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 report on Thursday, April 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, Citigroup boosted their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Check Out Our Latest Stock Report on Bank of New York Mellon

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon 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 owns 24,346 shares in the company, valued at $1,410,363.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,928 shares of company stock valued at $6,475,216. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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