New York Life Investment Management LLC Has $6.35 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

New York Life Investment Management LLC lessened its stake in The Bank of New York Mellon Co. (NYSE:BK) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,936 shares of the bank’s stock after selling 51,664 shares during the quarter. New York Life Investment Management LLC’s holdings in Bank of New York Mellon were worth $6,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC raised its position in shares of Bank of New York Mellon by 3.8% in the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after purchasing an additional 182 shares during the period. Hartford Financial Management Inc. lifted its position in Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares during the last quarter. Certuity LLC boosted its holdings in shares of Bank of New York Mellon by 2.3% during the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock worth $467,000 after acquiring an additional 205 shares during the period. Choreo LLC grew its position in shares of Bank of New York Mellon by 1.8% in the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock valued at $620,000 after purchasing an additional 208 shares during the last quarter. Finally, Commonwealth Retirement Investments LLC increased its stake in shares of Bank of New York Mellon by 0.8% during the fourth quarter. Commonwealth Retirement Investments LLC now owns 27,757 shares of the bank’s stock worth $1,445,000 after purchasing an additional 221 shares during the period. 85.31% of the stock is owned by institutional investors.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the completion of the transaction, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,568 shares of company stock valued at $5,459,897. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Trading Up 0.7 %

Shares of Bank of New York Mellon stock opened at $57.01 on Friday. The firm’s 50 day moving average is $56.14 and its 200 day moving average is $52.19. The firm has a market capitalization of $42.92 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.22 and a beta of 1.11. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities research 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 will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BK. 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. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Evercore ISI increased their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. UBS Group upped their target price on 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. Finally, 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. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon 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.