International Assets Investment Management LLC Invests $7.75 Million in The Bank of New York Mellon Co. (NYSE:BK)

International Assets Investment Management LLC acquired a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 148,655 shares of the bank’s stock, valued at approximately $7,754,000.

A number of other large investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Bank of New York Mellon by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after purchasing an additional 40,969 shares during the period. Trust Point Inc. purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $310,000. WCG Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $1,552,000. Meeder Asset Management Inc. purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $1,298,000. Finally, Brandes Investment Partners LP grew its stake in Bank of New York Mellon by 4.1% in the third quarter. Brandes Investment Partners LP now owns 1,555,184 shares of the bank’s stock worth $66,329,000 after purchasing an additional 61,501 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on BK. Citigroup upped their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Jefferies Financial Group increased their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Morgan Stanley upped their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, UBS Group boosted their price objective on shares of 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. Five investment 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Insiders Place Their Bets

In related news, EVP J Kevin Mccarthy sold 40,000 shares of the company’s 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 transaction, the executive vice president now directly 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 through this hyperlink. In related news, EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The disclosure for this sale can be found here. Over the last quarter, 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 Stock Performance

Shares of BK stock opened at $57.48 on Tuesday. 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 fifty day simple moving average is $56.21 and its 200-day simple moving average is $52.53. 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 cap of $43.27 billion, a PE ratio of 14.02, a PEG ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results 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 the consensus estimate of $4.39 billion. During the same quarter last year, the company earned $1.13 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. Bank of New York Mellon’s 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.