Bailard Inc. Acquires 2,314 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Bailard Inc. increased its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 12.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,556 shares of the bank’s stock after purchasing an additional 2,314 shares during the quarter. Bailard Inc.’s holdings in Bank of New York Mellon were worth $1,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BK. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Bank of New York Mellon by 8.9% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,352 shares of the bank’s stock valued at $903,000 after buying an additional 1,411 shares during the period. Wynn Capital LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter valued at approximately $1,211,000. Private Management Group Inc. boosted its holdings in shares of Bank of New York Mellon by 0.3% in the fourth quarter. Private Management Group Inc. now owns 817,489 shares of the bank’s stock valued at $42,550,000 after buying an additional 2,297 shares during the period. GAMMA Investing LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth $242,000. Finally, Illinois Municipal Retirement Fund lifted its position 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 purchasing an additional 57,211 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 0.2 %

BK stock traded up $0.13 during midday trading on Friday, reaching $57.31. 518,047 shares of the company’s stock traded hands, compared to its average volume of 3,933,700. The company has a market cap of $43.15 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.25 and a beta of 1.12. The firm’s fifty day moving average price is $55.97 and its 200-day moving average price is $51.67. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 52 week low of $39.65 and a 52 week high of $58.28.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating 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 business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the business posted $1.13 EPS. Bank of New York Mellon’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side 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 announced 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. The ex-dividend date is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.93%. Bank of New York Mellon’s payout ratio is 40.98%.

Analyst Ratings Changes

A number of analysts have recently commented on BK shares. Bank of America boosted their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Citigroup increased 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. UBS Group increased their price objective 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. Jefferies Financial Group upped their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Morgan Stanley raised their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the business’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 of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was 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 $5,637,684.60. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock worth $5,459,897 in the last quarter. 0.14% of the stock is currently owned by corporate 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.