Jackson Square Capital LLC Invests $216,000 in The Bank of New York Mellon Co. (NYSE:BK)

Jackson Square Capital LLC bought a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 2,573 shares of the bank’s stock, valued at approximately $216,000.

A number of other institutional investors have also modified their holdings of BK. Revolve Wealth Partners LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $220,000. Leavell Investment Management Inc. purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $204,000. Gladstone Institutional Advisory LLC purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $1,280,000. Avidian Wealth Enterprises LLC boosted its holdings in Bank of New York Mellon by 3.5% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 7,271 shares of the bank’s stock worth $559,000 after acquiring an additional 247 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Bank of New York Mellon by 12.3% in the 4th quarter. Blue Trust Inc. now owns 1,879 shares of the bank’s stock worth $144,000 after acquiring an additional 206 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BK opened at $88.50 on Friday. The Bank of New York Mellon Co. has a 1-year low of $57.18 and a 1-year high of $90.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The business’s fifty day moving average price is $84.13 and its two-hundred day moving average price is $82.92. The firm has a market capitalization of $63.32 billion, a PE ratio of 15.23, a P/E/G ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.08. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.29 earnings per share. On average, research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Insider Activity at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the firm’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, the vice president now owns 87,542 shares of the company’s stock, valued at $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the transaction, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,114 shares of company stock valued at $7,869,795 over the last 90 days. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BK has been the subject of several research analyst reports. Evercore ISI increased their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research note on Tuesday, April 1st. Truist Financial cut Bank of New York Mellon from a “buy” rating to a “hold” rating and increased their target price for the company from $87.00 to $97.00 in a research note on Wednesday, May 28th. Wells Fargo & Company increased their target price on Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research note on Monday, March 3rd. Wall Street Zen cut Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Citigroup increased their target price on Bank of New York Mellon from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $91.85.

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.