Tokio Marine Asset Management Co. Ltd. Grows Position in The Bank of New York Mellon Co. (NYSE:BK)

Tokio Marine Asset Management Co. Ltd. lifted its stake in The Bank of New York Mellon Co. (NYSE:BK) by 8.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,352 shares of the bank’s stock after buying an additional 1,411 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Bank of New York Mellon were worth $903,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quent Capital LLC raised its stake in Bank of New York Mellon by 3.8% during 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 in the last quarter. Hartford Financial Management Inc. raised its stake 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 valued at $33,000 after purchasing an additional 183 shares in the last quarter. Commonwealth Retirement Investments LLC raised its stake in 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 valued at $1,445,000 after purchasing an additional 221 shares in the last quarter. Arjuna Capital raised its stake in Bank of New York Mellon by 0.5% during the third quarter. Arjuna Capital now owns 48,446 shares of the bank’s stock valued at $2,066,000 after purchasing an additional 251 shares in the last quarter. Finally, BRYN MAWR TRUST Co raised its stake in Bank of New York Mellon by 3.3% during the third quarter. BRYN MAWR TRUST Co now owns 8,000 shares of the bank’s stock valued at $341,000 after purchasing an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Catherine Keating sold 4,498 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the 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 approximately $5,637,684.60. The disclosure for this sale can be found here. Insiders sold 98,568 shares of company stock valued at $5,459,897 in the last three months. 0.14% of the stock is owned by insiders.

Bank of New York Mellon Stock Performance

BK stock opened at $57.31 on Friday. The firm has a market cap of $43.15 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.23 and a beta of 1.12. The firm has a 50-day simple moving average of $56.01 and a two-hundred day simple moving average of $51.77. 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 debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 earnings per share. On average, equities analysts forecast 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 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 $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is currently 40.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup boosted 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Bank of America upped 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 note on Wednesday, April 17th. Evercore ISI upped 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 note on Thursday, April 4th. Finally, Jefferies Financial Group upped their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

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.