Stevens Capital Management LP Sells 2,363 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Stevens Capital Management LP decreased its holdings in The Bank of New York Mellon Co. (NYSE:BK) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,801 shares of the bank’s stock after selling 2,363 shares during the period. Stevens Capital Management LP’s holdings in Bank of New York Mellon were worth $927,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Syon Capital LLC bought a new stake in Bank of New York Mellon in the 4th quarter valued at about $233,000. Bailard Inc. increased its stake in Bank of New York Mellon by 12.0% during the 4th quarter. Bailard Inc. now owns 21,556 shares of the bank’s stock worth $1,122,000 after acquiring an additional 2,314 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Bank of New York Mellon by 8.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,352 shares of the bank’s stock valued at $903,000 after acquiring an additional 1,411 shares during the period. Wynn Capital LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth $1,211,000. Finally, Private Management Group Inc. increased its position in shares of Bank of New York Mellon by 0.3% in the fourth quarter. Private Management Group Inc. now owns 817,489 shares of the bank’s stock worth $42,550,000 after purchasing an additional 2,297 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 1.3 %

NYSE:BK traded down $0.77 during trading hours on Thursday, hitting $57.18. 3,254,122 shares of the company traded hands, compared to its average volume of 3,977,260. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The company has a market cap of $43.05 billion, a PE ratio of 14.13, a PEG ratio of 1.24 and a beta of 1.12. The firm’s 50-day simple moving average is $55.93 and its 200-day simple moving average is $51.63. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 11.80% and a net margin of 9.48%. Bank of New York Mellon’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $1.13 earnings per share. Equities analysts predict that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

Analyst Ratings Changes

BK has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. UBS Group lifted their price target on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley boosted their price objective on shares of 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. Bank of America raised 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. Finally, Jefferies Financial Group lifted 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. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now owns 123,490 shares in the company, valued at $6,768,486.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 98,568 shares of company stock worth $5,459,897. Company insiders own 0.14% of the company’s stock.

Bank of New York Mellon Profile

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.