The Bank of New York Mellon Co. (NYSE:BK) Shares Acquired by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,494 shares of the bank’s stock after acquiring an additional 305 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Bank of New York Mellon were worth $1,483,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Brown Brothers Harriman & Co. grew its position in Bank of New York Mellon by 97.1% in the first quarter. Brown Brothers Harriman & Co. now owns 609 shares of the bank’s stock worth $30,000 after buying an additional 300 shares during the last quarter. Hartford Financial Management Inc. grew its position in Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after buying an additional 183 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in Bank of New York Mellon in the first quarter worth approximately $36,000. Addison Advisors LLC grew its position in Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $37,000 after buying an additional 754 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Bank of New York Mellon in the third quarter worth approximately $38,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BK shares. Citigroup lifted their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $52.00 to $62.00 in a research report on Tuesday, January 30th. Evercore ISI lifted their price objective on shares of 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Finally, UBS Group lifted their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.72.

Bank of New York Mellon Trading Down 2.0 %

Shares of NYSE:BK opened at $53.99 on Wednesday. The firm has a fifty day moving average of $55.75 and a two-hundred day moving average of $51.08. The firm has a market capitalization of $40.64 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.12. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.87.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter last year, the business posted $1.13 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts expect that The Bank of New York Mellon Co. will post 5.33 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors 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 3.11%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is presently 42.32%.

Insider Activity at Bank of New York Mellon

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

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.