Charles Schwab Investment Management Inc. Increases Position in The Bank of New York Mellon Co. (NYSE:BK)

Charles Schwab Investment Management Inc. boosted its position in The Bank of New York Mellon Co. (NYSE:BK) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,802,627 shares of the bank’s stock after acquiring an additional 70,146 shares during the period. Charles Schwab Investment Management Inc. owned about 0.62% of Bank of New York Mellon worth $249,977,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BK. Northern Trust Corp raised its stake in Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock worth $403,208,000 after purchasing an additional 715,421 shares during the period. Victory Capital Management Inc. raised its position in shares of Bank of New York Mellon by 1.5% in the 3rd quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock worth $373,505,000 after buying an additional 129,929 shares during the period. LSV Asset Management grew its position in Bank of New York Mellon by 1.0% during the fourth quarter. LSV Asset Management now owns 7,372,209 shares of the bank’s stock valued at $383,723,000 after acquiring an additional 72,880 shares during the period. Legal & General Group Plc increased its stake in Bank of New York Mellon by 0.9% during the third quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock worth $281,912,000 after acquiring an additional 57,402 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Bank of New York Mellon by 10.0% in the 3rd quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock valued at $246,182,000 after purchasing an additional 524,912 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the subject of a number of recent research reports. Citigroup increased 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. Evercore ISI boosted their target price on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Morgan Stanley raised their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Jefferies Financial Group upped 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 report on Thursday, April 18th. Finally, Bank of America lifted their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Trading Up 0.2 %

Bank of New York Mellon stock opened at $57.51 on Thursday. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The stock has a market cap of $43.30 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.23 and a beta of 1.11. 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 posted 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 for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. 0.14% of the stock is 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.