Benjamin F. Edwards & Company Inc. Sells 296 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Benjamin F. Edwards & Company Inc. trimmed its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,106 shares of the bank’s stock after selling 296 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Bank of New York Mellon were worth $578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of Bank of New York Mellon by 142.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock worth $69,125,000 after acquiring an additional 951,730 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Bank of New York Mellon by 153.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock valued at $80,913,000 after purchasing an additional 941,193 shares during the period. Barclays PLC boosted its stake in shares of Bank of New York Mellon by 30.0% in the 3rd quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock valued at $160,020,000 after purchasing an additional 866,548 shares during the last quarter. Northern Trust Corp grew its position in shares of Bank of New York Mellon by 8.2% during the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after buying an additional 715,421 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Bank of New York Mellon by 1,191.2% during the third quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock worth $31,953,000 after buying an additional 691,172 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.2 %

NYSE:BK opened at $57.51 on Thursday. The company has a market cap of $43.30 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. The business has a 50 day moving average price of $56.25 and a two-hundred day moving average price of $52.64. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last released its earnings results 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 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 the consensus estimate of $4.39 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts expect that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal 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 paid a $0.42 dividend. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. Bank of New York Mellon’s dividend payout ratio is 40.98%.

Insiders Place Their Bets

In other news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon 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 completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’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 completion of the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BK. Morgan Stanley lifted their target price on shares of 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. Citigroup upped their price objective 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. Evercore ISI raised their target price 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. Bank of America upped their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

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.