Ensign Peak Advisors Inc Purchases 17,525 Shares of The Bank of New York Mellon Co. (NYSE:BK)

Ensign Peak Advisors Inc increased its position in The Bank of New York Mellon Co. (NYSE:BK) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,676 shares of the bank’s stock after buying an additional 17,525 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Bank of New York Mellon were worth $12,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BK. Parvin Asset Management LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $25,000. Bellwether Advisors LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $28,000. Transce3nd LLC bought a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $33,000. South Plains Financial Inc. purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $35,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BK shares. Morgan Stanley reduced their target price on Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. UBS Group boosted their target price on Bank of New York Mellon from $88.00 to $94.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Truist Financial reduced their target price on Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of Bank of New York Mellon in a research note on Monday, March 17th. Finally, Barclays boosted their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the 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 $91.31.

Bank of New York Mellon Price Performance

Shares of BK stock opened at $85.90 on Monday. The stock has a market cap of $61.46 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 0.97 and a beta of 1.05. The business’s fifty day moving average is $80.67 and its 200 day moving average is $80.98. The Bank of New York Mellon Co. has a twelve month low of $57.18 and a twelve month high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. Research analysts expect that The Bank of New York Mellon Co. will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Monday, April 21st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Monday, April 21st. Bank of New York Mellon’s dividend payout ratio (DPR) is 30.62%.

Insiders Place Their Bets

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $79.03, for a total value of $2,370,900.00. Following the sale, the executive vice president now directly owns 55,115 shares of the company’s stock, valued at approximately $4,355,738.45. The trade was a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the sale, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,114 shares of company stock valued at $7,869,795. 0.14% of the stock is currently owned by corporate insiders.

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.