Searle & CO. Acquires New Position in The Bank of New York Mellon Co. (NYSE:BK)

Searle & CO. acquired a new stake in The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,500 shares of the bank’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hartford Financial Management Inc. grew its holdings in shares of 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 valued at $33,000 after purchasing an additional 183 shares during the last quarter. Addison Advisors LLC boosted its position in shares of Bank of New York Mellon by 603.2% during the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock worth $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 during the third quarter worth approximately $38,000. Blue Trust Inc. boosted its position in shares of Bank of New York Mellon by 159.2% during the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after buying an additional 527 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Bank of New York Mellon in the third quarter worth approximately $49,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP J Kevin Mccarthy sold 40,000 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Insiders have sold a total of 98,568 shares of company stock worth $5,459,897 over the last three months. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

BK has been the subject of a number of research analyst reports. Jefferies Financial Group upped their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Citigroup raised their price objective on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Bank of America increased their target price on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, UBS Group increased their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Price Performance

Shares of NYSE:BK opened at $56.89 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The business has a fifty day simple moving average of $56.11 and a 200 day simple moving average of $52.16. The firm has a market cap of $42.83 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 1.21 and a beta of 1.11.

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 the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the company earned $1.13 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.95%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

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.