GAMMA Investing LLC Invests $242,000 in The Bank of New York Mellon Co. (NYSE:BK)

GAMMA Investing LLC purchased a new position in The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,370 shares of the bank’s stock, valued at approximately $242,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Hartford Financial Management Inc. lifted its stake in 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 period. Addison Advisors LLC raised its position in shares of Bank of New York Mellon by 603.2% in the 3rd 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 last quarter. First Command Advisory Services Inc. purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $38,000. Blue Trust Inc. raised its position in shares of Bank of New York Mellon by 159.2% in the 4th quarter. Blue Trust Inc. now owns 858 shares of the bank’s stock valued at $45,000 after purchasing an additional 527 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $49,000. 85.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction 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 in the company, valued at $5,637,684.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction on Thursday, April 18th. The stock was 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 owns 78,350 shares of the company’s stock, valued at approximately $4,299,848. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 98,568 shares of company stock valued at $5,459,897. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on BK shares. UBS Group increased their price target on shares of 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. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Evercore ISI lifted their target price on shares of 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. Citigroup boosted their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Stock Down 1.3 %

BK stock opened at $57.17 on Friday. The company’s 50 day moving average price is $55.97 and its 200 day moving average price is $51.67. 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 fifty-two week low of $39.65 and a fifty-two week high of $58.28. The firm has a market capitalization of $43.04 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.25 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.43 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. Stockholders of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon’s payout ratio is currently 40.98%.

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.