Searle & CO. Purchases New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Searle & CO. purchased a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, Holdings Channel reports. The firm purchased 4,500 shares of the bank’s stock, valued at approximately $234,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BK. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bank of New York Mellon by 22.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after purchasing an additional 40,969 shares in the last quarter. Trust Point Inc. bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $310,000. WCG Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon in the third quarter worth approximately $1,552,000. Meeder Asset Management Inc. bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth approximately $1,298,000. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Bank of New York Mellon by 14.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 451,889 shares of the bank’s stock worth $23,521,000 after acquiring an additional 57,211 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on BK shares. Citigroup boosted their target price 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. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. UBS Group boosted their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Evercore ISI boosted 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 research report on Thursday, April 4th. Finally, Bank of America boosted 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 research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.17.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction dated 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 transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 98,568 shares of company stock worth $5,459,897. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Price Performance

BK stock opened at $56.89 on Thursday. 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’s fifty day moving average price is $56.11 and its 200-day moving average price is $52.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The company has a market capitalization of $42.83 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.21 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. On average, equities analysts anticipate that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

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.