King Luther Capital Management Corp Decreases Stake in The Bank of New York Mellon Co. (NYSE:BK)

King Luther Capital Management Corp cut its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,086 shares of the bank’s stock after selling 3,023 shares during the quarter. King Luther Capital Management Corp’s holdings in Bank of New York Mellon were worth $1,826,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BK. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth $28,000. Hartford Financial Management Inc. raised its holdings in shares of Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Bank of New York Mellon by 159.2% in the fourth quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock worth $45,000 after acquiring an additional 527 shares during the last quarter. Addison Advisors LLC grew its position in shares of Bank of New York Mellon by 603.2% in the third quarter. Addison Advisors LLC now owns 879 shares of the bank’s stock valued at $37,000 after purchasing an additional 754 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Bank of New York Mellon in the third quarter valued at $38,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on BK. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Bank of America lifted their price objective on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Morgan Stanley boosted their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Jefferies Financial Group boosted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, Citigroup upped their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Insider Activity

In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the transaction, the vice president now owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were 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 directly owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction dated 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 approximately $4,299,848. The disclosure for this sale can be found here. Insiders have sold a total of 115,928 shares of company stock worth $6,475,216 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

Bank of New York Mellon Stock Performance

BK traded up $0.65 during trading hours on Friday, hitting $58.98. The company’s stock had a trading volume of 168,474 shares, compared to its average volume of 3,709,965. The Bank of New York Mellon Co. has a fifty-two week low of $39.66 and a fifty-two week high of $59.70. The firm has a market capitalization of $44.11 billion, a PE ratio of 14.23, a PEG ratio of 1.21 and a beta of 1.11. The company has a 50-day simple moving average of $56.98 and a 200 day simple moving average of $53.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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 business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.45 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were given a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.85%. Bank of New York Mellon’s payout ratio is 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.