Northstar Group Inc. lifted its position in Bank of New York Mellon Corp (NYSE:BK) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,173 shares of the bank’s stock after acquiring an additional 465 shares during the period. Northstar Group Inc.’s holdings in Bank of New York Mellon were worth $1,018,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Lavaca Capital LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $27,000. Sontag Advisory LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $33,000. Valley National Advisers Inc. increased its position in Bank of New York Mellon by 76.5% during the fourth quarter. Valley National Advisers Inc. now owns 713 shares of the bank’s stock worth $34,000 after acquiring an additional 309 shares during the period. Berman Capital Advisors LLC bought a new position in Bank of New York Mellon during the fourth quarter worth $33,000. Finally, Essex Savings Bank bought a new position in Bank of New York Mellon during the fourth quarter worth $35,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.
BK has been the topic of several analyst reports. Zacks Investment Research lowered shares of Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Royal Bank of Canada lowered their target price on shares of Bank of New York Mellon to $52.00 and set a “positive” rating on the stock in a report on Thursday, April 18th. Deutsche Bank upped their price target on shares of Bank of New York Mellon from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Citigroup downgraded shares of Bank of New York Mellon from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $52.00 in a research report on Wednesday, January 9th. Finally, Vining Sparks reiterated a “buy” rating and set a $55.00 price target on shares of Bank of New York Mellon in a research report on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Bank of New York Mellon presently has a consensus rating of “Hold” and an average target price of $53.75.
In related news, VP Bridget E. Engle sold 22,670 shares of the stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $52.99, for a total transaction of $1,201,283.30. Following the completion of the sale, the vice president now directly owns 92,150 shares of the company’s stock, valued at approximately $4,883,028.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Trian Fund Management, L.P. sold 621,807 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $50.11, for a total value of $31,158,748.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 853,244 shares of company stock valued at $43,210,239. 1.71% of the stock is currently owned by company insiders.
Shares of BK stock traded down $0.09 on Wednesday, reaching $48.05. The company had a trading volume of 3,783,947 shares, compared to its average volume of 4,951,132. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.68 and a quick ratio of 0.70. The stock has a market cap of $47.71 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. Bank of New York Mellon Corp has a 12 month low of $43.67 and a 12 month high of $58.22.
Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Wednesday, April 17th. The bank reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a net margin of 20.69% and a return on equity of 10.98%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. As a group, research analysts anticipate that Bank of New York Mellon Corp will post 4.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Monday, April 29th will be paid a $0.28 dividend. The ex-dividend date is Friday, April 26th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.33%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 26.60%.
Bank of New York Mellon Company Profile
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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