SageView Advisory Group LLC Invests $1.21 Million in The Bank of New York Mellon Co. (NYSE:BK)

SageView Advisory Group LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 21,547 shares of the bank’s stock, valued at approximately $1,208,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BK. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter worth approximately $28,000. Hartford Financial Management Inc. boosted its stake in Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after buying an additional 183 shares in the last quarter. Addison Advisors LLC increased 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 during the period. First Command Advisory Services Inc. acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $38,000. Finally, Blue Trust Inc. lifted its holdings in shares of Bank of New York Mellon by 159.2% during the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares during the period. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BK has been the topic of a number of analyst reports. Bank of America upped their target price 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. Jefferies Financial Group increased their target price 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 objective on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. 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 report on Wednesday, March 27th. Finally, Evercore ISI increased 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Activity

In related news, VP Catherine Keating sold 54,070 shares of the 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 transaction, the vice president now directly 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 accessible through the SEC website. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the completion of the transaction, the vice president now owns 144,721 shares in the company, valued at $8,343,165.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $2,967,361.60. Following the transaction, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold 115,928 shares of company stock worth $6,475,216 over the last ninety days. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Up 1.3 %

Shares of NYSE:BK traded up $0.76 during trading on Friday, hitting $59.09. 2,098,327 shares of the company’s stock traded hands, compared to its average volume of 2,819,826. The company has a market cap of $44.19 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.11. The Bank of New York Mellon Co. has a 52 week low of $39.66 and a 52 week high of $59.70. 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 moving average price of $57.08 and a 200-day moving average price of $53.93.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.13 EPS. As a group, research analysts forecast that The Bank of New York Mellon Co. will post 5.45 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were paid 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 2.84%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

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.