Main Street Financial Solutions LLC Buys New Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Main Street Financial Solutions LLC purchased a new position in shares of The Bank of New York Mellon Co. (NYSE:BK) in the 4th quarter, Holdings Channel.com reports. The fund purchased 3,039 shares of the bank’s stock, valued at approximately $233,000.

A number of other large investors also recently modified their holdings of BK. FMR LLC increased its position in Bank of New York Mellon by 19.3% during the 4th quarter. FMR LLC now owns 23,071,584 shares of the bank’s stock worth $1,772,590,000 after purchasing an additional 3,732,862 shares in the last quarter. Norges Bank acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $1,150,462,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Bank of New York Mellon by 17.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 7,751,219 shares of the bank’s stock valued at $595,526,000 after acquiring an additional 1,125,493 shares during the period. Invesco Ltd. lifted its holdings in shares of Bank of New York Mellon by 2.4% during the 4th quarter. Invesco Ltd. now owns 7,596,210 shares of the bank’s stock valued at $583,617,000 after acquiring an additional 175,704 shares in the last quarter. Finally, Amundi boosted its position in Bank of New York Mellon by 5.1% during the 4th quarter. Amundi now owns 7,363,015 shares of the bank’s stock worth $573,947,000 after purchasing an additional 359,942 shares during the period. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Catherine Keating sold 65,473 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the completion of the transaction, the vice president now directly owns 87,542 shares in the company, valued at $6,767,872.02. This represents a 42.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.

Bank of New York Mellon Trading Up 0.7 %

Shares of NYSE BK opened at $76.25 on Friday. The stock has a market capitalization of $54.75 billion, a P/E ratio of 13.12, a PEG ratio of 0.97 and a beta of 1.03. The stock’s 50 day moving average price is $82.91 and its two-hundred day moving average price is $80.26. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 52-week low of $54.76 and a 52-week high of $90.34.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (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 firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period last year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts anticipate that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

Wall Street Analyst Weigh In

BK has been the topic of a number of recent research reports. Wolfe Research cut Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Citigroup upped their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, March 24th. Barclays lifted their price objective on shares of 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. Bank of America upped their target price on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $89.64.

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.