Cerity Partners LLC Has $865,000 Stake in The Bank of New York Mellon Co. (NYSE:BK)

Cerity Partners LLC lowered its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 87.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 16,608 shares of the bank’s stock after selling 118,638 shares during the period. Cerity Partners LLC’s holdings in Bank of New York Mellon were worth $865,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in BK. Northern Trust Corp raised its holdings in Bank of New York Mellon by 8.2% in the 3rd quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after acquiring an additional 715,421 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Bank of New York Mellon by 1.5% in the third quarter. Victory Capital Management Inc. now owns 8,757,443 shares of the bank’s stock valued at $373,505,000 after purchasing an additional 129,929 shares in the last quarter. Legal & General Group Plc lifted its position in Bank of New York Mellon by 0.9% in the third quarter. Legal & General Group Plc now owns 6,609,866 shares of the bank’s stock worth $281,912,000 after purchasing an additional 57,402 shares during the period. Bank of New York Mellon Corp boosted its stake in Bank of New York Mellon by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 6,387,455 shares of the bank’s stock worth $272,425,000 after buying an additional 226,834 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Bank of New York Mellon by 10.0% in the 3rd quarter. Invesco Ltd. now owns 5,772,146 shares of the bank’s stock valued at $246,182,000 after buying an additional 524,912 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BK. Jefferies Financial Group lifted their target price on shares of 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. UBS Group increased their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Evercore ISI lifted their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, Bank of America boosted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $57.16 on Tuesday. The business has a fifty day moving average of $55.79 and a 200-day moving average of $51.48. The firm has a market cap of $43.03 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28.

Bank of New York Mellon (NYSE:BK) last posted 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 net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter last year, the company posted $1.13 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that The Bank of New York Mellon Co. will post 5.42 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently disclosed 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. This represents a $1.68 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is 40.98%.

About Bank of New York Mellon

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.