Choreo LLC Raises Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Choreo LLC increased its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,903 shares of the bank’s stock after purchasing an additional 208 shares during the quarter. Choreo LLC’s holdings in Bank of New York Mellon were worth $620,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BK. Hartford Financial Management Inc. grew its holdings in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after buying an additional 183 shares in the last quarter. Addison Advisors LLC grew its holdings in Bank of New York Mellon by 603.2% in the 3rd quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after buying an additional 754 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at $38,000. Blue Trust Inc. grew its holdings in Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after buying an additional 527 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Bank of New York Mellon in the 3rd quarter valued at $49,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on BK shares. Citigroup upped their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Jefferies Financial Group increased their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley increased their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Bank of America increased their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, 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 report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Price Performance

BK opened at $56.46 on Thursday. The stock’s 50-day moving average price is $56.11 and its 200 day moving average price is $52.16. 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 current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The firm has a market cap of $42.51 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.23 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the company earned $1.13 EPS. Bank of New York Mellon’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Thursday, April 25th. 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 news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’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 value of $2,246,000.00. Following 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 have sold 98,568 shares of company stock valued at $5,459,897 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

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.