Private Management Group Inc. Buys 2,297 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Private Management Group Inc. lifted its stake in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.3% during the fourth quarter, Holdings Channel reports. The firm owned 817,489 shares of the bank’s stock after buying an additional 2,297 shares during the period. Bank of New York Mellon comprises about 1.6% of Private Management Group Inc.’s holdings, making the stock its 8th largest position. Private Management Group Inc.’s holdings in Bank of New York Mellon were worth $42,550,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in shares of Bank of New York Mellon by 142.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,620,749 shares of the bank’s stock valued at $69,125,000 after purchasing an additional 951,730 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Bank of New York Mellon by 153.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,554,532 shares of the bank’s stock worth $80,913,000 after buying an additional 941,193 shares in the last quarter. Barclays PLC raised its stake in shares of Bank of New York Mellon by 30.0% in the 3rd quarter. Barclays PLC now owns 3,751,994 shares of the bank’s stock worth $160,020,000 after buying an additional 866,548 shares in the last quarter. Northern Trust Corp raised its stake in shares of 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 worth $403,208,000 after buying an additional 715,421 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in shares of Bank of New York Mellon by 1,191.2% in the 3rd quarter. Bank of Nova Scotia now owns 749,193 shares of the bank’s stock worth $31,953,000 after buying an additional 691,172 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Up 0.5 %

Shares of NYSE:BK traded up $0.29 on Tuesday, reaching $57.45. The company had a trading volume of 2,860,990 shares, compared to its average volume of 3,996,152. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28. The stock has a 50-day moving average price of $55.86 and a 200 day moving average price of $51.58. The stock has a market capitalization of $43.25 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.21 and a beta of 1.12. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90.

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, topping 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 analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given 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 dividend yield of 2.92%. Bank of New York Mellon’s dividend payout ratio is presently 40.98%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group lifted 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. Citigroup lifted their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Jefferies Financial Group lifted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Bank of America lifted their price target 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, Morgan Stanley lifted 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 report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Insider Buying and Selling

In related news, VP Catherine Keating sold 54,070 shares of the business’s 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 owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 100,404 shares of the company’s stock, valued at approximately $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction that occurred on 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 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. In the last 90 days, insiders sold 98,568 shares of company stock valued at $5,459,897. Insiders own 0.14% of the company’s stock.

Bank of New York Mellon Company 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.