Next Level Private LLC Buys New Stake in The Bank of New York Mellon Co. (NYSE:BK)

Next Level Private LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, Holdings Channel.com reports. The firm purchased 4,546 shares of the bank’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. WCG Wealth Advisors LLC purchased a new position in Bank of New York Mellon during the 3rd quarter worth approximately $1,552,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Bank of New York Mellon by 22.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after acquiring an additional 465,229 shares during the period. Brandes Investment Partners LP raised its position in Bank of New York Mellon by 4.1% in the 3rd quarter. Brandes Investment Partners LP now owns 1,555,184 shares of the bank’s stock valued at $66,329,000 after purchasing an additional 61,501 shares during the last quarter. Czech National Bank boosted its stake in Bank of New York Mellon by 60.1% during the 3rd quarter. Czech National Bank now owns 136,115 shares of the bank’s stock worth $5,805,000 after purchasing an additional 51,104 shares during the period. Finally, MML Investors Services LLC purchased a new position in Bank of New York Mellon during the 2nd quarter worth $6,681,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Catherine Keating sold 4,498 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Hanneke Smits sold 15,425 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $55.16, for a total transaction of $850,843.00. Following the sale, the vice president now directly owns 119,656 shares of the company’s stock, valued at $6,600,224.96. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Trading Up 0.6 %

Shares of Bank of New York Mellon stock opened at $57.27 on Thursday. The company has a 50-day moving average of $55.38 and a two-hundred day moving average of $49.75. The stock has a market cap of $43.12 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $57.45.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Friday, January 12th. The bank reported $1.28 EPS for the quarter, topping the consensus estimate of $1.12 by $0.16. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.26 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Monday, January 22nd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Friday, January 19th. Bank of New York Mellon’s dividend payout ratio is presently 42.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BK shares. UBS Group raised their price target on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Citigroup lifted their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of Bank of New York Mellon from a “neutral” rating to an “overweight” rating and set a $54.50 price objective on the stock in a research report on Monday, December 18th. Finally, Morgan Stanley raised shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $52.00 to $62.00 in a research note on Tuesday, January 30th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.65.

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.