Xponance Inc. Boosts Position in The Bank of New York Mellon Co. (NYSE:BK)

Xponance Inc. boosted its position in shares of The Bank of New York Mellon Co. (NYSE:BK) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 115,192 shares of the bank’s stock after acquiring an additional 914 shares during the quarter. Xponance Inc.’s holdings in Bank of New York Mellon were worth $5,996,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BK. Geode Capital Management LLC grew its holdings in Bank of New York Mellon by 1.5% during the first quarter. Geode Capital Management LLC now owns 15,302,537 shares of the bank’s stock valued at $693,747,000 after purchasing an additional 227,602 shares during the period. Norges Bank bought a new stake in Bank of New York Mellon during the fourth quarter valued at about $503,489,000. Northern Trust Corp grew its holdings in Bank of New York Mellon by 8.2% during the third quarter. Northern Trust Corp now owns 9,453,880 shares of the bank’s stock valued at $403,208,000 after purchasing an additional 715,421 shares during the period. Victory Capital Management Inc. grew its holdings in Bank of New York Mellon by 1.5% during 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 during the period. Finally, Morgan Stanley grew its holdings in Bank of New York Mellon by 13.2% during the fourth quarter. Morgan Stanley now owns 7,863,929 shares of the bank’s stock valued at $357,966,000 after purchasing an additional 916,664 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

NYSE:BK opened at $56.29 on Friday. 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 company has a market capitalization of $42.38 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.19 and a beta of 1.12. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.28. The business’s 50-day moving average is $55.76 and its 200 day moving average is $51.23.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.13 earnings per share. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. Bank of New York Mellon’s dividend payout ratio is currently 40.98%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BK has been the subject of several recent research reports. Morgan Stanley raised Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $52.00 to $62.00 in a report on Tuesday, January 30th. Jefferies Financial Group upped their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group upped their price objective on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Citigroup upped 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. Finally, Evercore ISI upped their price objective on Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.06.

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.