The Bank of New York Mellon Co. (NYSE:BK) Shares Sold by Ossiam

Ossiam reduced its stake in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 88.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,480 shares of the bank’s stock after selling 439,731 shares during the quarter. Ossiam’s holdings in Bank of New York Mellon were worth $3,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake in 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 acquiring an additional 182 shares during the last quarter. Hartford Financial Management Inc. increased its stake 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 purchasing an additional 183 shares in the last quarter. Certuity LLC increased its stake 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 purchasing an additional 205 shares in the last quarter. Choreo LLC raised its position in shares of Bank of New York Mellon by 1.8% during the 4th quarter. Choreo LLC now owns 11,903 shares of the bank’s stock worth $620,000 after purchasing an additional 208 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in Bank of New York Mellon by 3.0% in the 4th quarter. Manchester Capital Management LLC now owns 7,524 shares of the bank’s stock valued at $392,000 after buying an additional 216 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Up 0.7 %

Shares of BK opened at $60.31 on Monday. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $60.67. The company’s fifty day moving average is $57.58 and its two-hundred day moving average is $54.95. The firm has a market cap of $45.10 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BKGet Free Report) last issued its earnings results 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. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 earnings per share. Analysts forecast that The Bank of New York Mellon Co. will post 5.45 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s payout ratio is currently 40.98%.

Wall Street Analysts Forecast Growth

BK has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Evercore ISI upped their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Citigroup boosted their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group raised their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Check Out Our Latest Stock Analysis on BK

Insider Buying and Selling

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 6,215 shares of Bank of New York Mellon stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total transaction of $360,034.95. Following the transaction, the insider now directly owns 24,346 shares of the company’s stock, valued at $1,410,363.78. The sale was disclosed in a filing with the SEC, which is available at this link. In other Bank of New York Mellon news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 of the company’s stock, valued at $1,410,363.78. The disclosure for this sale can be found here. In the last quarter, 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 Company 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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