The Bank of New York Mellon Co. (NYSE:BK) Shares Purchased by Dakota Wealth Management

Dakota Wealth Management increased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 35.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,868 shares of the bank’s stock after acquiring an additional 33,305 shares during the period. Dakota Wealth Management’s holdings in Bank of New York Mellon were worth $6,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Waldron Private Wealth LLC grew its holdings in Bank of New York Mellon by 20.4% in the fourth quarter. Waldron Private Wealth LLC now owns 6,982 shares of the bank’s stock valued at $363,000 after purchasing an additional 1,184 shares during the period. Beverly Hills Private Wealth LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $261,000. Conning Inc. acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $201,000. Louisiana State Employees Retirement System acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $2,420,000. Finally, Simplicity Solutions LLC grew its holdings in Bank of New York Mellon by 5.7% in the fourth quarter. Simplicity Solutions LLC now owns 13,850 shares of the bank’s stock valued at $721,000 after purchasing an additional 751 shares during the period. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of Bank of New York Mellon stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $55.09 on Tuesday. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The company has a market cap of $41.48 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.72 and a current ratio of 0.72. The business’s 50 day moving average price is $55.77 and its 200 day moving average price is $51.00.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.63% and a net margin of 10.01%. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the business posted $1.13 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts predict that The Bank of New York Mellon Co. will post 5.33 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.05%. Bank of New York Mellon’s payout ratio is 42.32%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Evercore ISI raised their price objective on 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. UBS Group lifted their price target 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. Royal Bank of Canada reaffirmed 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. Citigroup lifted their price target 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. Finally, Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $52.00 to $62.00 in a research note on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.72.

Bank of New York Mellon Company 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.