LSV Asset Management Has $383.72 Million Stock Position in The Bank of New York Mellon Co. (NYSE:BK)

LSV Asset Management grew its holdings in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 7,372,209 shares of the bank’s stock after purchasing an additional 72,880 shares during the period. Bank of New York Mellon accounts for about 0.8% of LSV Asset Management’s portfolio, making the stock its 19th largest position. LSV Asset Management’s holdings in Bank of New York Mellon were worth $383,723,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quent Capital LLC lifted its stake 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 worth $262,000 after buying an additional 182 shares during the last quarter. Hartford Financial Management Inc. grew its position in shares of 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 valued at $33,000 after purchasing an additional 183 shares during the last quarter. Certuity LLC grew its position in shares of Bank of New York Mellon by 2.3% in the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after purchasing an additional 205 shares during the last quarter. Choreo LLC increased its stake 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 worth $620,000 after purchasing an additional 208 shares during the period. Finally, Commonwealth Retirement Investments LLC lifted its position in shares of Bank of New York Mellon by 0.8% during the 4th 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 last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BK has been the topic of several recent analyst reports. UBS Group lifted their price target on 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. Royal Bank of Canada reaffirmed 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. Jefferies Financial Group increased 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 report on Thursday, April 18th. Citigroup raised their price target 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. Finally, Morgan Stanley increased their target price 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 note on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock traded up $0.40 during trading on Friday, hitting $57.00. 2,214,001 shares of the company’s stock traded hands, compared to its average volume of 3,813,908. The company has a market cap of $42.91 billion, a PE ratio of 13.90, a PEG ratio of 1.23 and a beta of 1.11. The firm’s fifty day moving average price is $56.16 and its 200 day moving average price is $52.30. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the business earned $1.13 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

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

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon 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 transaction of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,568 shares of company stock valued at $5,459,897. 0.14% of the stock is currently owned by company insiders.

About Bank of New York Mellon

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.