Catalina Capital Group LLC Increases Stake in The Bank of New York Mellon Co. (NYSE:BK)

Catalina Capital Group LLC grew its position in shares of The Bank of New York Mellon Co. (NYSE:BKFree Report) by 15.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,244 shares of the bank’s stock after buying an additional 820 shares during the quarter. Catalina Capital Group LLC’s holdings in Bank of New York Mellon were worth $360,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Bank of New York Mellon by 6.1% during the 4th quarter. Vanguard Group Inc. now owns 74,501,451 shares of the bank’s stock worth $3,877,801,000 after purchasing an additional 4,293,751 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of Bank of New York Mellon by 0.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 19,793,539 shares of the bank’s stock worth $1,030,254,000 after purchasing an additional 144,162 shares during the period. Norges Bank acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth $813,701,000. LSV Asset Management grew its stake in shares of Bank of New York Mellon by 1.0% during the 4th quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock worth $383,723,000 after purchasing an additional 72,880 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Bank of New York Mellon by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,758,152 shares of the bank’s stock worth $351,775,000 after purchasing an additional 223,867 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 0.8 %

Shares of Bank of New York Mellon stock traded up $0.49 during mid-day trading on Wednesday, hitting $60.70. 2,923,726 shares of the stock were exchanged, compared to its average volume of 3,683,322. The stock has a market capitalization of $45.39 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. The Bank of New York Mellon Co. has a twelve month low of $39.66 and a twelve month high of $60.91. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. The company has a 50-day simple moving average of $58.86 and a 200 day simple moving average of $56.50.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion for 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 revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 EPS. Research analysts forecast that The Bank of New York Mellon Co. will post 5.47 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.77%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s 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 transaction, the executive vice president now owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Kurtis R. Kurimsky sold 6,215 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $57.93, for a total value of $360,034.95. Following the transaction, the insider now owns 24,346 shares in the company, valued at $1,410,363.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 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 have sold a total of 115,928 shares of company stock worth $6,475,216 in the last three months. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BK shares. Jefferies Financial Group increased their price objective 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. Keefe, Bruyette & Woods raised shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $60.00 to $70.00 in a research note on Thursday, June 27th. Bank of America increased their price objective on shares of 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. Morgan Stanley increased their price objective 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. Finally, Evercore ISI reissued an “in-line” rating and issued a $61.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, July 3rd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $61.15.

View Our Latest Stock Analysis on BK

Bank of New York Mellon Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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